You are here

French mall battered by consumer spending crisis

One in six stores in Le Millenaire mall, in the suburb of Paris, has shut down because shoppers have failed to come.

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.