Buckland Hills Mall sees shake-up in retail store closures. One national tenant announces they will no longer be closing; while another announces their pending closure.
Liquidating National Retailer reverses course:
On the heels of the brand's purchase, the custom gift shop, Things Remembered, has reversed course and now plans to keep their Buckland Hill's location open. The brand had been liquidating their Buckland Hills location since January, in preparation for the chain to file for chapter 11 bankruptcy on February 6th. The original plan was for all their retail locations to close and run an online only store.
Things Remembered was bought by Enesco, the leading producer of customized home decor and gifts. The purchase of the brand lead to the decision to keep many of the chains retail locations open as stores and showrooms for the new products from the combined company.
National Retailer begins liquidation:
Charlotte Russe has begun liquidation at their remain US locations including their location at Buckland Hills. The chain filed for bankruptcy on February 4th; and announced the closure of 94 under-performing stores. The decision to close all their remaining stores came on March 7th; a buyer was sought to keep the remaining stores open, but the chain was sold to SB360 Capital Partners ( a liquidation company.)
The last day to use gift cards is March 21st; and purchases must be made in store as their online store has closed permanently.
Sears sells Manchester building:
Sears has sold their Manchester building for $10.4 million; the buyer TF Manchester could not be reached for comment. The future of Sears in Manchester is uncertain at the time; the chains has signaled a severe need to close more stores to get the new company (Transform Holdco, a subsidiary of ESL Investments) in a profitable position for the future.
Jean-Luc has written articles for the past year about Manchester Business.