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Is the age of megamalls coming to an conclusion? At New Jersey’s American Aspiration shopping mall, it may be. 

The 3.5 million sq. foot retail and amusement sophisticated in East Rutherford has virtually $290 million in personal debt and employed some of its previous reserves to make a $9.3 million payment due Tuesday.

In accordance to a securities submitting very first documented by Bloomberg, what was projected to be a bustling new megamall now has just $820 left in its reserve fund, with the future payment due on Aug. 1.

How Did This Materialize?

The missed sales tax payment is just the most up-to-date chapter in the mall’s fraught economical historical past.