Executives with Charleston Town Center are closely following developments at troubled retail giant J.C. Penney.
Last week, the J.C. Penney board ousted chief executive officer Ron Johnson, who had been in the position only 17 months, after the department store chain posted its worst annual sales since 1987.
During his tenure, Johnson implemented a plan to revamp the chain by eliminating discounts in favor of everyday low prices, cutting employees and remodeling 700 of the company's 1,100 stores to feature boutique shopping brands, a move designed to attract younger, wealthier shoppers.
Shoppers did not take to the changes, and Penney's reported a sales drop of 25 percent last year.
On Thursday, the Wall Street Journal reported the company had hired Blackstone Group financial advisers to help the company raise more than $1 billion in cash. The Journal also reported the company was hoping to entice private-equity firms to invest in the company.
Other reports have speculated the company may sell off some of its locations and real estate to raise cash.
Meanwhile, the J.C. Penney board has re-hired former CEO Myron Ullman to find ways to cut costs and raise capital.
"Charleston Town Center is following with interest the corporate J.C. Penney reports in the news media," said Lisa McCracken, mall marketing director.