![]() said San Francisco’s “path to recovery remains clouded and elongated by major challenges.” Some of those challenges include high office vacancies, a weaker-than-expected convention calendar and “concerns over street conditions,” according to Baltimore. In a statement announcing the decision, Park Hotels and Resorts CEO Thomas Baltimore, Jr. According to a tally from the San Francisco Standard, twenty retailers near San Francisco’s Union Square have closed their doors since 2020.Įarlier this month, Park Hotels and Resorts, the investment firm that owns Hilton San Francisco Union Square and Parc 55 hotels, also ceased payments to its lender. Westfield is just the latest high-profile business to abandon the city. ![]() Three years later, corporate America has yet to return in the same numbers: office vacancies in San Francisco have reached a 30-year high. Westfield’s exit marks another significant setback for San Francisco, which saw its economy hit hard by the pandemic as many Silicon Valley companies allowed flexible work-from-home policies, resulting in many white-collar workers filtering out of the city. Total sales have fallen from $455 million in 2019 to $298 million in 2022, and foot traffic has plunged from 9.7 million visits in 2019 to 5.6 million in 2022, according to Westfield. Once a bustling retail center in the heart of San Francisco, the San Francisco Centre has taken a significant hit in the past few years. Last month, a Westfield spokesperson attributed Nordstrom’s closing to “unsafe conditions for customers, retailers, and employees.” The mall operator’s decision to surrender its San Francisco space comes after several of the mall’s major stores announced closures, including Nordstrom and Banana Republic. The company attributed its decision to the “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.” He gave a clear answer.Shopping mall operator Westfield said it plans to give up control of the San Francisco Centre mall after more than 20 years of operation in another sign of San Francisco’s economic struggles. As I say, he was asked a direct question. I hadn't thought it would be followed by pathetic playground antics by both Sunak and Johnson arguing over who's lying and who started it."ĭowning Street has since defended Mr Sunak's remarks.Īsked whether the prime minister regrets his comments and getting into a public row with his predecessor, his spokesman told reporters: "No. He tweeted: "Purely puerile was how I described Johnson's hissy fit resignation. Labour MP Chris Bryant, chair of the standards committee, accused the pair of "playground antics" amid the escalating war of words. Mr Sunak's comments were the first public statement he has made on the matter since Mr Johnson dramatically resigned on Friday, just hours after his resignation honours list was published. ![]() His answer was met with a smattering of applause from the crowd. "And if people don't like that, then tough."īoris Johnson 'asked me to do something I wasn't prepared to do' - Rishi Sunak "I wasn't prepared to do that - as I said, I didn't think it was right. "That was to either overrule the Holac committee or to make promises with people. "Boris Johnson asked me to do something I wasn't prepared to do because I didn't think it was right. Speaking from London Tech Week earlier on Monday, Mr Sunak said: "Look, when it comes to honours and Boris Johnson. The former prime minister was said to be angry after Mr Sunak - who then reviews the list - refused to reinstate his nominations or consider nominating them later on, with Holac not wanting sitting MPs to be put in the Lords.Īllies in the Johnson camp accused the prime minister of "secretly blocking" the peerages - something Downing Street has strenuously denied. ![]()
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