Based on the 8K the company is on the verge of breaking most of its leverage and coverage covenants but hasn't done so yet. However with Zales as a top ten tenant, the writing is on the wall.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjR-B6yPALGht4ryVqSOUjsTUX4MWb9wfWMYvVRbyfUDO-nzcSGCEj6FpRcSqXotZuk3CrrT4xqVCKE0Oxn0eAAbXncfULeWETuAFEMWMjmkyOlJH_8r-G26spolUiycSWMYhw4gzGBIEzG/s400/GGP8K.jpg)
"ON A LONG ENOUGH TIMELINE, THE SURVIVAL RATE FOR EVERYONE DROPS TO ZERO"
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