Westfield malls owner Scentre Group has written down the value of its shopping centres in New Zealand and Australia by just over A$3.6 billion​(NZ$3.9b)​ thanks to the impact of Covid-19 on retail sales. Allen said the assistance provided by retail malls to their tenants was unequalled by any other sector of the economy. In Australia, the proportion of retailers in Westfield malls that were open fell to 44 ​per cent in April, with customer spending falling 57​ per cent. SUPPLIED Scentre's Westfield malls in Australia saw a more shallow dip in store closures and sales during the country's lighter-handed approach to fighting Covid-19 than its New Zealand malls. SUPPLIED/Stuff Scentre's New Zealand malls closed almost entirely during the March and April lockdowns.

Source: Stuff August 29, 2020 16:52 UTC