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	<title>Closing Archives - VRJ Properties</title>
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	<title>Closing Archives - VRJ Properties</title>
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		<title>Tampa Macy&#8217;s Closing, Mall Owner Has Plans for the Site</title>
		<link>https://vrjproperties.com/tampa-macys-closing-mall-owner-has-plans-for-the-site/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 10 Jan 2025 15:26:41 +0000</pubDate>
				<category><![CDATA[Hospitality]]></category>
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		<category><![CDATA[Mall]]></category>
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					<description><![CDATA[<p>The Macy’s Inc. department store at WestShore Plaza in Tampa is closing. The department store said Thursday that it will close 66 stores across the U.S. Seven of those stores, including WestShore Plaza, are in Florida. A time frame for the store...</p>
<p>The post <a href="https://vrjproperties.com/tampa-macys-closing-mall-owner-has-plans-for-the-site/">Tampa Macy&#8217;s Closing, Mall Owner Has Plans for the Site</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="e3b49971-5dee-4d13-a2ea-e81046dee9fd">The Macy’s Inc. department store at WestShore Plaza in Tampa is closing. The department store said Thursday that it will close 66 stores across the U.S. Seven of those stores, including WestShore Plaza, are in Florida. A time frame for the store closures was not disclosed.</p>
<p data-beyondwords-marker="e39b4ff0-74c7-45ef-82e1-22b8890c7a28">The Tampa Business Journal reports <strong>WPG</strong>, the mall owner, has been planning for the moment for a few years now and has been exploring redevelopment options. In late 2024, WPG paid $10 million for Macy’s real estate — the last remaining piece of WestShore Plaza that it did not own. </p>
<p data-beyondwords-marker="c4c9d8ff-c5c2-4fa7-a84e-dd8713778331">Macy’s (NYSE: M) is the second major retailer to close at WestShore Plaza in less than four months. Dick’s Sporting Goods left the mall to move down the road to International Plaza, where it opened its new concept Dick’s House of Sport in October.</p>
<p data-beyondwords-marker="d219d164-b8b6-4b89-8bbc-b4f04da57875">WPG’s redevelopment plans include up to 3.5 million square feet of mixed-use development including entertainment, retail, dining, office, wellness, medical, hotel and residential components. </p>
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<br /><a href="https://www.connectcre.com/stories/tampa-macys-closing-mall-owner-has-plans-for-the-site/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/tampa-macys-closing-mall-owner-has-plans-for-the-site/">Tampa Macy&#8217;s Closing, Mall Owner Has Plans for the Site</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>rue21 Closing 39 Georgia Locations</title>
		<link>https://vrjproperties.com/rue21-closing-39-georgia-locations/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Mon, 06 May 2024 14:21:23 +0000</pubDate>
				<category><![CDATA[Commercial Property]]></category>
		<category><![CDATA[Closing]]></category>
		<category><![CDATA[commercial real estate]]></category>
		<category><![CDATA[Georgia]]></category>
		<category><![CDATA[Locations]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[rue21]]></category>
		<guid isPermaLink="false">https://vrjproperties.com/rue21-closing-39-georgia-locations/</guid>

					<description><![CDATA[<p>Teen clothing retailer rue21 has once again filed for bankruptcy and will now close all stores. The store, which touts selling “the trendiest clothing at affordable prices,” filed for bankruptcy in 2002 and 2017. The company said it tried to sell off the...</p>
<p>The post <a href="https://vrjproperties.com/rue21-closing-39-georgia-locations/">rue21 Closing 39 Georgia Locations</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="e7ed5a3b-f739-4867-a059-25f2cd4e7001">Teen clothing retailer <strong>rue21</strong> has once again filed for bankruptcy and will now close all stores. The store, which touts selling “the trendiest clothing at affordable prices,” filed for bankruptcy in 2002 and 2017. The company said it tried to sell off the business, but no buyer would pay more than the retailer would earn by liquidating.</p>
<p data-beyondwords-marker="08435d2f-b9e6-4e08-adc9-6291c7287d49">There are currently 39 rue21 locations across Georgia, with 21 of them in the metro Atlanta area. Going-out-of-business sales will be held over the next month to month and a half. The owners are also selling the company’s intellectual property, separate from the clothing sales. </p>
<p data-beyondwords-marker="b7474a0f-c59e-4eec-bd47-a9ed44118178">The clothing retailer was founded in 1970 as Pennsylvania Fashions Inc., which changed its name to rue21 after emerging from Chapter 11 bankruptcy in 2003. Rue21’s initial public offering took the company public in 2009, and its majority owners again took it private in 2013, the year it opened its 1,000th store.</p>
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<br /><a href="https://www.connectcre.com/stories/rue21-closing-39-georgia-locations/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/rue21-closing-39-georgia-locations/">rue21 Closing 39 Georgia Locations</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>Walmart Closing 17 Georgia Health Centers</title>
		<link>https://vrjproperties.com/walmart-closing-17-georgia-health-centers/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Wed, 01 May 2024 14:11:33 +0000</pubDate>
				<category><![CDATA[Commercial Property]]></category>
		<category><![CDATA[Centers]]></category>
		<category><![CDATA[Closing]]></category>
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		<category><![CDATA[Walmart]]></category>
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					<description><![CDATA[<p>Just two weeks ago, Walmart touted that it was opening dozens of new Walmart Health centers. The company has now announced that it will shutter all of them. In a release, the company said, “We determined there is not a...</p>
<p>The post <a href="https://vrjproperties.com/walmart-closing-17-georgia-health-centers/">Walmart Closing 17 Georgia Health Centers</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="b6ce4b65-48de-4002-b0a6-7cda07897ff1">Just two weeks ago, Walmart touted that it was opening dozens of new <strong>Walmart Health </strong>centers. The company has now announced that it will shutter all of them. In a release, the company said, “We determined there is not a sustainable business model for us to continue.” </p>
<p data-beyondwords-marker="331712f8-c100-4835-a137-e15bc386ef5f">The company opened its first one in 2019 and has 51 nationwide, 17 in Georgia, nearly all in small—to midsize communities. The stores are all attached to a currently operating Walmart store. As far as workers go:</p>
<ul data-beyondwords-marker="356a5266-9adb-4d4a-b947-255fcd74d1c9">
<li data-beyondwords-marker="418fc04a-2859-473a-ade4-8ab03953ae11">All associates are eligible to transfer to any other Walmart or Sam’s Club location.</li>
<li data-beyondwords-marker="335b7285-2ee0-4c71-8f4c-868495367b98">All associates will be paid for 90 days, unless they transfer to another location during that time or leave the company.</li>
<li data-beyondwords-marker="906951cc-f035-4401-8192-97380e4770cd">After 90 days, if they do not transfer or leave, eligible associates will receive severance benefits.</li>
</ul>
<p data-beyondwords-marker="e20d1da4-8e04-4ae4-9a37-9a4e887dce11">The company will continue to operate 4,600 Pharmacies and more than 3,000 Vision Centers nationwide.</p>
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<br /><a href="https://www.connectcre.com/stories/walmart-closing-17-georgia-health-centers/">Source link </a></p>
<p>The post <a href="https://vrjproperties.com/walmart-closing-17-georgia-health-centers/">Walmart Closing 17 Georgia Health Centers</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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		<title>99 Cents Only Stores Closing All 371 Locations</title>
		<link>https://vrjproperties.com/99-cents-only-stores-closing-all-371-locations/</link>
		
		<dc:creator><![CDATA[VRJwebmaster]]></dc:creator>
		<pubDate>Fri, 05 Apr 2024 10:12:46 +0000</pubDate>
				<category><![CDATA[Multi-Tenant]]></category>
		<category><![CDATA[Retail]]></category>
		<category><![CDATA[Cents]]></category>
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					<description><![CDATA[<p>Commerce, CA-based 99 Cents Only Stores LLC said Thursday afternoon it would close all 371 of its stores. The company entered into an agreement with Hilco Global to liquidate all merchandise and dispose of certain fixtures, furnishings and store equipment. Sales...</p>
<p>The post <a href="https://vrjproperties.com/99-cents-only-stores-closing-all-371-locations/">99 Cents Only Stores Closing All 371 Locations</a> appeared first on <a href="https://vrjproperties.com">VRJ Properties</a>.</p>
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<p data-beyondwords-marker="0127588c-77fb-4f7d-b4b7-4bf260f941a3">Commerce, CA-based 99 Cents Only Stores LLC said Thursday afternoon it would close all 371 of its stores. The company entered into an agreement with Hilco Global to liquidate all merchandise and dispose of certain fixtures, furnishings and store equipment. Sales under this agreement are expected to begin Friday. </p>
<p data-beyondwords-marker="6333fe40-4ed5-4dd9-9592-a91d306e2d95">Hilco Real Estate is managing the sale of the company’s real estate assets, both owned and leased, in Arizona, California, Nevada and Texas. To help facilitate the wind-down, the company appointed Chris Wells, managing director at Alvarez &amp; Marsal, as chief restructuring officer. Mike Simoncic, interim CEO of 99 Cents Only Stores and managing director at Alvarez &amp; Marsal, will step down.</p>
<p data-beyondwords-marker="f328cee1-a8a5-423a-b65d-ee0958ebed20">“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Simoncic. “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the company’s ability to operate. We deeply appreciate the dedicated employees, customers, partners and communities who have collectively supported 99 Cents Only Stores for decades.”</p>
<p data-beyondwords-marker="c89398d3-563b-4b6d-b563-5a54ffc4805d">Founded in Los Angeles in 1982, 99 Cents Only Stores maintained a tradition for decades of selling TVs for 99 cents to the first few customers at each store opening. Its liquidation announcement comes a few weeks after Dollar Tree announced that it would close <strong>970 Family Dollar stores</strong>.</p>
<p data-beyondwords-marker="eb2c809e-4bc7-480f-8f95-88db56b8fa64"><em>Pictured: A 99 Cents Only store in North Hollywood, CA. Photo credit: Downtowngal/Wikipedia.</em></p>
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