French mall battered by consumer spending crisis

Aubervilliers, France

IN the middle of 2008, construction began on France's biggest mall project in a decade. Weeks later the US credit and housing crisis slammed into Europe, and promoters of Le Millenaire braced for a big hit to their hopes.

Reality was even harsher.

In 2014, neon placards gleam from the top of the completed mall in working-class Aubervilliers. But several of the names they advertise - like high-street fashion stores Desigual and OVS Industry - are no longer to be found inside. One in six of the mall's stores shut down because the shoppers failed to come.

The 140-store centre, dubbed a "ghost mall" by some visitors, epitomises the state of France: high expectations stalled by low spending, dispirited entrepreneurs and a lack …