THIS is the last weekend shoppers can visit Michigan’s Lakeside Mall before it closes after 48 years of operation.
The Sterling Heights mall, just 30 minutes from Detroit, will permanently close its doors on July 1st.
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Local residents recalled shopping at the mall and meeting friends on the weekends.
“Coming here as a kid, we used to go ice skating, usually on Sundays. Then we would hang out with the family,” Michelle Suminski told the local ABC affiliate. W X Y Z.
She went to Lakeside on Wednesday to get one last look before closing.
“Just walking around and looking at all the empty stores. Just remembering, seeing what it was like,” Suminksi said.
The mall is holding a sale where shoppers can purchase equipment and furniture to remember.
“I’d probably get a bench, honestly… yeah, somewhere to sit. A lot of people have been there and it’s a piece of the store’s history, so why not? I’m going to get a bench,” James Deler told the outlet.
All money raised from the sale will be donated to a local charity.
Exact details on when the sale will take place will be released later this year.
PLANS FOR THE SHOPPING SHOPPING
The mall will be demolished, except for the JCPenney and Macy’s stores.
Lionheart Capital, a subsidiary of Out of the Box Ventures, and the city of Sterling Heights will collaborate to repurpose different parts of the mall.
A $1 billion project is planned for the site, which includes commercial, office and residential space, as well as a park and hotel.
“We are grateful to have a developer as involved in our local community as Lionheart Capital/Out of the Box Ventures,” said Sterling Heights Mayor Michael Taylor.
“They truly understand the emotional connection our community has to Lakeside Mall and are taking great care to preserve that legacy as they plan this transformative Lakeside town center.
“Whether in the form of supporting community events, public involvement in aspects of development or preserving public art, they have been an exceptional partner in what will be the largest development in our city’s history.”
LAST CALL
Mall staples like JCPenney are facing financial troubles as shoppers stay away from malls.
JCPenney announced it would close four stores as it works to “make every dollar count.”
The stores also span four distinct states and are listed below.
- Elm Plaza, Waterville, Maine
- Stores in Bel Air, Mobile, Alabama
- Sikes Senter, Wichita Falls, Texas
- Westfield Annapolis Mall, Annapolis, Maryland
The Maine, Texas and Alabama stores are expected to close in September, while the Maryland store will close sometime next year.
Why are JCPenney stores closing?
JCPenney made headlines after it was revealed that the chain will close several stores in the coming months.
The department store chain, which was already expanding, has faced falling sales and has struggled to attract new customers.
The emergence of online shopping has reached physical stores and shopping centers.
When the Covid-19 pandemic struck, retailers, including JCPenney, were dealt another blow that proved fatal for many.
The retailer’s financial difficulties came to a head in May 2020 when it filed for bankruptcy protection with debts of about $4 million.
The subsequent restructuring saw a series of closures as the retailer embarked on a new strategy for sustainable growth.
175 stores closed across the country between 2020 and 2021.
However, even after being purchased, the company continues to struggle with sales, especially as consumers tighten their belts due to the high cost of living and inflation.
JCPenney’s latest fourth-quarter net sales fell to $2.3 billion, a 5.9% year-over-year decline, while net income fell 8.9% to $41 million.
“Regrettably, we are unable to continue our current lease terms for these stores and are unable to find suitable locations in the market,” JCPenney said of the closures.
“We are grateful to our dedicated associates and loyal customers who have shopped at these locations over the years.”
Stores are holding clearance sales ahead of closings.
JCPenney had more than 850 locations in 2020 when it first filed for bankruptcy, but more than 100 locations closed the following year.
The entire retail sector has faced closures as consumers cut back on spending.
Walgreens announced it would close 25% of its more than 8,000 stores.
And a popular thrift store is holding clearance sales as it closes a location.
This story originally appeared on The-sun.com read the full story
