INDIANAPOLIS (WTHR) - Macy's is closing a number of stores nationwide and Indianapolis has one of them.
Macy's announced plans Monday to close their longtime Glendale store.
Store employees were told Monday that closeout sales would begin in the middle of January.
Macy's Inc says this is all part of a 2016 announcement that it planned to close 100 stores, which makes up 15 percent of its operations. That translates into over 120 stores closing its doors since 2015.
Macy's released the following statement about the closure:
Macy’s, Inc. has been reviewing its real estate portfolio across the country to see if there are opportunities to improve the use of our assets. After careful consideration, Macy’s has decided to close its Glendale, Indiana store in early 2019. A clearance sale will begin in mid-January 2019 and will run for 8-12 weeks. Macy’s has shared this information with our valued colleagues. Regular, non-seasonal employees who we are unable to place at nearby Macy’s stores will be eligible for severance, including outplacement resources.The decision to close a store is always a difficult one, but Macy’s is delighted to have served the Glendale community over the past 25 years, and we look forward to continuing to do so at the Macy’s nearby in Castleton Square and online at macys.com.
It's never a good thing to lose a major tenant but Kite Management which operates Glendale Mall says it remains optimistic about the future of the mall, implying something may already be in the works to replace Macy's.
“Glendale Town Center is a prime example of how great real estate has and will evolve in response to a dynamic retail landscape. We are excited for the opportunity to reimagine a center that has been a mainstay of the Indianapolis community for decades,” said Tom McGowan, President and Chief Operating Officer. “This departure represents a significant mark-to-market opportunity and by reacquiring control of such a central part of the center we’re able to consider a wide variety of options and alternative uses to increase traffic, improve the visitor experience and maximize value of the asset.”
Macy's says it is proud of the 25 year history it has enjoyed here at Glendale Mall and that the company looks forward to continuing that at its Castleton Square location.
Kite plans to have the 237,000 square feet of retail space available on April 1, 2019.