Oops! Steve and Barry’s is closing at Crossroads Mall after all
Journal Record
November 26th, 2008
In a strange turn of fate, the blog I posted yesterday about the resiliency of Crossroads Mall’s only remaining anchor tenant is now invalid. Yesterday, Steven and Barry’s replaced its “This store is not closing” signs with “Going out of business” signs all over the store. While details of the store’s closing have yet to be made public, the decision is not totally surprising considering the bankruptcy issues the retailer is having. However, the information on the company’s website still shows the Oklahoma City store as remaining open.
Now, with Crossroads Mall losing all four of its anchor tenants within the span of just over a year, the outlook does not look good. It will be interesting to see if the mall can retain its inline retailers without the support of its anchors, but odds say that it will be extremely difficult.
Crossroads Mall is not alone. If national economic conditions do not improve soon, then the Oklahoma City retail market can expect more store closings and higher vacancy in many metro area shopping centers, but hopefully not the level Crossroads has seen.
Oops! Steve and Barry?s is closing at Crossroads Mall after all