The papers say it’s bad news for mall owners because it could be forced to close all of its more than 270 stores. It’s also bad news for the 16,000 or so employees, most of whom will lose their jobs.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.