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Seyfarth Shaw LLP's Maura B. O'Connor

'The most important thing to know if you're Gap, you've got to figure out how to become a little more hip.'

By By Don Jergler | Updated on August 30, 2008

Gap Will:

The cash gap between the number of retail stores and shoppers with income to spare may be what’s causing retailers like the Gap to slide. Respondents to last week’s Quick Poll anticipate more store closings than announced the for the Gap (59%) compared with 20% who believe the retailer will “Find a Real Estate Solution.” About one in five respondents (21%) think the company will “Fall Through the Gap.” Maura B. O’Connor, a real estate partner at Seyfarth Shaw LLP in Los Angeles, believes there will be more closings.

I voted on ‘Close More Stores Than Announced.’ Gap has publicly announced it’s increasing store closings to about 115 for fiscal 2008, after announcing in February that they were going to close 85. Bottom line, the current market makes it hard to offload or sublet large amounts off real estate.

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