Several stores are calling it quits at local malls. The highest profile is the Macy's at Washington Square.
Other closings include Gap stores, a Limited Too and The Walking Co. Have you heard of others? What will these closings mean
for the malls? Here's the rundown so far:
Gap is closing its stores at Greenwood Park and Washington Square by the end of January. The chain still
has stores at Circle Centre, The Fashion Mall and Castleton Square. Limited Too is closing at Circle
Centre Mall but plans to stay open at Greenwood Park, Castleton Square and Metropolis. The store didn't make enough money
to justify renewing its lease. The Walking Co. is closing its clearance store at Castleton Square.
The chain plans to open new stores in Greenwood and at Hamilton Town Center in the coming months. It already has stores at
Circle Centre and The Fashion Mall. Bombay, a furniture store, plans to close for good at Castleton
Square.
Back to Top
IBJ Conversations
34 Comments
Add Comment
Stores like Limited Too are pretty tacky and generic, so I don't mind it closing in Circle Centre, especially if a better retailer takes the space.
I go to the one in Circle CIty frequently. The staff and selection are great and it seems plenty busy to me.
The nationwide credit crunch has nothing to do with federal spending, and neither does the local/state real estate tax mess.
I don't see any reason to cry over any of these closings. They are chains every one, and this is part of the natural turnover of any retail development.
Indianapolis as a city is less dependent on manufacturing than other parts of Indiana; like most mid-major cities our biggest employers are health care (regional hospitals such as Methodist, IU, Riley), education (IUPUI and K-12) and local/state government. However, a significant part of our local manufacturing base (Allison and Rolls-Royce) benefits from the federal (military) spending that HMP was decrying. Another significant part of our corporate base gained some benefit from the new federal senior-citizen drug benefit (Lilly).
So HMP's blanket assertion that federal spending priorities don't benefit Indianapolis is as mistaken as your point about jobs and economic growth.
One of the good things about this blog is that it relies on facts and not feelings. Factual rebuttals aren't censorship.
Right on, Urbanophile. Economists call that process creative destruction and it is inherent in our economic structure: things change and firms either adapt or go extinct.
Also, Cory, in the restaurant arena, Bennigan's in Fishers has closed. Don't know when; drove past today and it says, Closed - For Lease.
I thought I also saw a sign in Castleton saying that the Sofa Express was also closing.
That would be really amazing if you could do that! Updates would be nice too.
Thank you...
(im sure im not the only one who would like something like this)
Plus, with property taxes up in the air, you can't plug an abatement or a TIF into a project pro-forma because there is no clue what it's worth until the General Assembly does something. Even without the credit crunch, there are too many open questions for bankers.
Has anybody heard anything else about Forbidden City on 86th st.?