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New York

30Apr 2017

The Big Short – One trader’s gambled £80m on the demise of US shopping malls

Short call: Wall Street trader Eric Yip is betting shopping malls will collapse

Eric Yip spent his childhood working in his parents’ store at a shopping mall in a small New Jersey town. The family sold homewares and T-shirts from the Burlington Center.

In the early 1980s, the 103,000 sq ft retail complex had more than 100 stores and was the heart of the community, credited with creating a development boom in the town.

Today, though, just a handful of shops remain and it is virtually silent.