Unlike many other U.S. malls in 2023, this entity is largely expected to thrive despite the loss.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Google.com, BedBathandBeyond.com, and Patch.com.
I write extensively about the state of U.S. shopping malls for NewsBreak. Of late, most of those articles have regarded mall closures or sales.
This piece is different, however, as it regards a mall that is largely expected to thrive despite the loss of a prominent anchor.
Shopping Malls, 2023
According to a recent report from Patch.com, entitled “Anchor Tenant Bed Bath & Beyond Slated To Close At Chicago Ridge Mall,” the financially beleaguered bedding company announced that within its spate of upcoming store closures — reportedly as a hedge against filing bankruptcy — is its longstanding location as anchor of the Chicago Ridge Mall.
As excerpted from the report: Amid mounting financial difficulties, Bed Bath & Beyond announced that it would be closing its store at Chicago Ridge Mall. The latest round of closures comes on the heels of previous announcements, which stated that 10 Illinois store locations were either closed or would be closing. Earlier, the retailer said it would take stock of its inventory of stores and shutter the locations considered to be the most low-performing.
As I have covered in several recent NewsBreak articles on the matter, the Bed Bath & Beyond chain is permanently shuttering over 200 locations, with more largely expected by industry analysts to be announced in short order. See here for my February 2nd article on this ongoing story, “Bed Bath & Beyond Announces the Permanent Closure of 87 More Locations, Above the 150 Previously Reported.”
Finally, as it regards the Chicago Ridge Mall, the entity is reported to be — unlike many other U.S. malls at present — financially healthy.
The Patch.com article went on to state: Bed Bath & Beyond is considered one of the mall’s anchor tenants, along with Kohl’s, Aldi, Dick’s Sporting Goods and AMC Chicago Ridge 6. The mall has taken some major blows over the past several years, with the closure of anchors Carson’s in 2018, and Sears in 2021. The mall quickly roared back, when Dick’s opened on the lower level of the former Carson’s space.
This is a developing story. In the event of pertinent updates to matters discussed in this piece, I will share them here on NewsBreak.
Thank you for reading.
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