Luxury Retailer 10 Corso Como Closes Up Shop. Was Coronavirus The Last Straw? [Forbes]
Howard Hughes Corporation (The) (HHC)
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Source: Forbes
10 Corso Como in New York City's Seaport DistrictGetty ImagesJust 18 months after opening a sprawling store in New York City’s Seaport District, luxury retailer 10 Corso Como is closing its doors.The apparent culprit: An accelerating coronavirus pandemic, which has created an uncertain future, according toWomen’s Wear Daily. As non-essential stores have shuttered over the last two weeks, 10 Corso Como, like many other luxury retailers, was faced with a cash-flow stoppage and overhead to pay.However, luxury boutique and department stores were experiencing challenges pre-COVID-19, as demonstrated by the closing of Barney’s New York and reports that Neiman Marcus is preparing to file for bankruptcy. The company’s choice of location had also proved challenging.Founder Carla Sozzani, 72, opened her first store in Milan in 1991 andquickly drew a devoted following among well-heeled clientele. In 2018, she partnered with developer The Howard Hughes Corp. to open her first U.S. outpost in the
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