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Closings
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ClosingsOffice Depot (561-438-7635) will close 70 stores in the U.S. and Canada as part of a restructuring. The office supply chain will close 20 stores in OH, nine in AZ, eight in MI, five in NY, five in CA, three in NJ, two each in CT, UT, MA, IA and MN and one each in IL, KS, MO, NM, PA, RI and TN.
Richard E. Jacobs Group’s (440-808-6305) Lakehurst Mall in Waukegeon, IL will close all stores except Carson Pirie Scott & Company, as per letters to vacate sent to its remaining tenants. The center was formerly anchored by JC Penney and Montgomery Ward who left in 1997. The Jacobs Group is actively seeking a buyer for the center. The Galleria in Cleveland, OH lost four stores. Eddie Bauer, Williams-Sonoma, Cleveland Trunk Company and Piccadilly’s closed about a month after the Richard E. Jacobs Group put the property up for sale.
Pep Boys (215-430-9240) will close 38 stores to refocus on service repair, commercial work and tires. The company may also reduce store hours and positions to enhance profitability.
Nordstrom’s (206-628-2111) will close its downtown Yakima, WA location after 40 years in business. The closing leaves the city’s retail district struggling after JC Penney outlet closed last summer.
Ann & Hope (401-722-1000) will close four stores in MA (Seekonk, Danvers, North Dartmouth and Watertown) and scale back on the remaining stores in Cumberland and Warwick, RI. The four properties have been sold to Eastern Development Company. Ann & Hope will open seven additional outlet stores and a garden shop in the next six months with the proceeds. The company operates 13 CFO Fashion Outlet stores, 10 Kid’s Outlet stores and two Curtain & Bath Stores in RI and MA.
Stage Stores (713-218-4444) trading as Palais Royal is seeking Bankruptcy Court permission to close seven Houston, TX area stores. The stores at Willowbrook, Baybrook, Deerbrook, Weslayan, Fondren, Quail Valley and Kingwood would all close. The company will also close all CO stores except the Cortez, CO location.
Saks Incorporated (901-372-4300) trading as Younkers will close at Duck Creek Plaza in Bettendorf, IA. The 60,000 sq.ft. store’s lease expired and Saks has two larger stores in the trade area (Davenport, IA and Moline, IL). There are 51 Younkers stores nationwide in the 360-unit Saks chain.
CinemaStar Luxury Theaters (760-929-2525) filed for chapter 11 protection under the U.S. Bankruptcy code. The company operates seven theaters for a total of 83 screens in Southern CA and plans to operate at a majority of them during the reorganization process.
LP Bookstores.com (614-486-5238) trading as Little Professor Book Company closed its store at Worthington Mall in Columbus, OH. The company operates one store at Lane Avenue Shopping Center in Upper Arlington, OH. The company operated seven stores at one time. Stores trading under the Little Professor name in the region are operated by other franchisees.
Borders Group (734-477-1100) trading as All Wound Up said they are looking to sell its toy stores in the wake of the company not making its fourth-quarter earnings projection. West Lumber (404-287-4747) closed 13 stores and retained Universal Capital Partners, LLC to liquidate the assets from those stores. West Lumber operates 31 stores in AL, LA, FL, GA, MS and NC.
Lids Corporation (781-326-9400) has filed for chapter 11 bankruptcy protection in order to streamline its operations and increase profitability. The company operates 388 stores in 47 states and had planned 75 openings in 2001.
Elephant & Castle Group (604-684-6451) will close its dual concept restaurant in Franklin Mills, PA. The store combined Alamo Grill and Elephant & Castle Pub but showed no profits. The company operates 21 units under the brands.
Spinnaker’s (615-370-0081) will close its Augusta Mall unit in Augusta, GA. The restaurant was the center’s only casual dining establishment.
Rite Aid (717-761-2633) will close two stores in Spokane, WA. The units located at Northpointe and University City will close as part of a company-wide effort that will close 100 underperforming stores. The company will continue to operate 11 Spokane-area stores as well as two in Coeur d’Alene, ID.
AMC Entertainment, Inc. (816-221-4000) will close its Crown Center location in Kansas City, MO. The theater has six screens and will be reopened by Cinema Consultants, Inc. AMC will also close its 21,000 sq.ft. unit at Tiffany Plaza Mall in Denver, CO.
Homeland Holding Corporation (405-879-6600) will close seven Homeland stores. Five of the closures will take place in OK. Homelands in Oklahoma City, Edmond, Anadarko, Owasso and Sapulpa will be shuttered. Stores will also close in Liberal, KS and Pampa, TX.
Edwards Theater Circuit Inc. (949-640-4600) closed the Woodbridge theater in Irvine, CA. The company is under chapter 11 reorganization and has now closed all but one of its theaters.
Frisch’s Big Boy Restaurants (513-961-2660) will close its location in Centerville, OH. The unit is located across from the Centerville Elder-Beerman and the building will be sold. The company opened a Golden Corral restaurant adjacent to the Mall at Fairfield Commons in Fairborn, OH. The company operates 121 units in the Midwest.
Regal Cinemas (865-922-1123) closed it movie operation in the McDonald Theater in Eugene, OR. The company had been showing films in the 900-seat theater since 1998. The downtown site is being considered to become Eugene’s mid-sized theater for live performances. |