No bargains on this shelf

For a long time, it has been evident that retail shopping giants Unibail-Rodamco-Westfield (URW) and Scentre Group were facing growing online competition. More recently, it became apparent the pair had bigger problems than just e-commerce.

URW had taken on too much debt to finance the purchase of Westfield, and Scentre’s management made the dubious decision to remove disclosure on key operating metrics. Then the corona-crisis hit and