This Massive Mall Retailer Now Closes For Good

This massive mall retailer now closes for good as theft drives its downtown area into a “doom loop”, say officials.

Macy’s has closed store doors for good alongside pharmacies and gas stations in Missouri.

St. Louis, Missouri used to have a busy downtown area, however, it’s become a dangerous place stricken with crime and empty office buildings, reports The US Sun.

A report from the Wall Street Journal on Tuesday described the “real estate nightmare” with stories of boarded-up shops and raids by police and firefighters to search for squatters and missing people.

These raids can be chaotic at times – in 2023, a search dog fell through an open window and died. Another time, a fire broke out by who authorities believed to be copper thieves.

The largest building in the city, a 44-story mammoth once owned by AT&T, is now empty after it was sold for about $3.5 million, a massive decline from 2006 when it sold for $205 million.

“Cities such as San Francisco and Chicago are trying to save their downtown office districts from spiraling into a doom loop. St. Louis is already trapped in one,” The Wall Street Journal reported.

The locals are perhaps the most fed up than anyone regarding the state of downtown with many finding the empty shops and restaurants depressing, resulting in fewer people commuting there.

The seemingly endless cycle ramped up in the years after the pandemic, which emptied out office buildings.

St. Louis’ central business district used to be home to steep foot traffic compared to other major US cities and while it has improved in the last year, it’s at a slower rate than many cities in the Midwest.

The city has also been losing residents since the Covid pandemic with the population dropping below 300,000 in 2020 – the first time this has happened since the mid-1800s.

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Also Read: A Massive US Bank Is Now Freezing Customers’ Money

Other Economy News Today

Market News Today - This Massive Mall Retailer Now Closes For Good.
Market News Today – This Massive Mall Retailer Now Closes For Good.

A famous clothing brand is now closing in Washington at a popular mall location due the continuous aftermath of the pandemic.

On April 21, Lululemon Athletica will shut down in Seattle, Washington, per The Seattle Times.

It will specifically be the store in Pacific Place downtown, a popular mall for local shoppers.

Pacific Place has reportedly suffered since the height of the coronavirus pandemic in 2020, seeing fewer customers than ever before.

Lululemon was directly affected by the decrease in foot traffic and will seemingly be vacating the location as a result.

Avison Young, the owner of Pacific Place, called the Lululemon closure “unfortunate.”

The exact reasoning behind the closure is unclear, as the company has not issued an official statement.

It also did not respond to request for comment from The Seattle Times.

Fans of the brand should have no fear even amid the closure, reports The-Sun.

Lululemon still has another location in downtown Seattle near University Village and eight other locations across Washington.

Fitness enthusiasts can still get what they need — but they may have to travel a bit farther than they used to.

Still, the shutdown is likely a shock for shoppers in the city, who recently saw another major retailer leave in the past few weeks.

Seattle’s Capitol Hill neighborhood watched earlier this month as an Amazon Fresh brick-and-mortar grocery store left for good.

Known as Pike Street Fresh, it’s last day open was April 7.

Shoppers who took advantage saw liquidation sales as high as 75% off.

Amazon confirmed that the closure was a result of its focus shifting to “larger-format” locations and leaving “smaller-format” stores like Pike Place Fresh behind.

“Over the last year, we’ve redesigned a number of our full-sized Amazon Fresh stores, offering a better overall shopping experience by bringing in an expanded selection,” spokesperson Jessica Martin told The Seattle Times.

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Also Read: A Massive Grocery Brand Now Files For Chapter 11 Bankruptcy

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Market News Today - This Massive Mall Retailer Now Closes For Good.
Market News Today – This Massive Mall Retailer Now Closes For Good.

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