Update 6/1: Music City Mall’s assistant general manager and sales director Natalie Boyer said the mall would carry on just fine without Sears.
She said that the original Music City Mall in Odessa went through a similar transition more than a year ago, and foot traffic ramped up 7 percent as a direct result. She also hinted that large national tenants will soon be on their way to the Lewisville mall.
“We look forward to the opportunities to put in more up-and-coming, new age anchors and/or tenants,” she wrote. “Rightly or wrongly, the negative national publicity regarding Sears for more than five years now hurts any mall where they are located. Most consumers very much dislike the unknown. Now that the unknown is removed, it’s newer and fresher horizons ahead.”
Original story: Sears has announced the closure of 63 stores across the U.S., including the store at Music City Mall in Lewisville. The store has been open since the mall opened in 1989.
According to the Sears release, the Music City location is one of four Sears that are closing in Texas, and three of them are in the DFW Metroplex — the other closures are the Golden Triangle Mall in Denton and Ridgmar Mall in Fort Worth. This will leave only five Sears in the Metroplex, and the closest to Lewisville will be in Irving Mall more than 20 minutes away.
The fact that all four of Music City Mall’s anchor stores remained open was listed as a big advantage by John Bushman, who bought it at auction last year and has made significant investments in the facility. The Lewisville Texan Journal has reached out to the mall for comment, and will update with more information as it becomes available.
Sears Holdings, the parent company of Sears and Kmart stores announced Thursday that they had identified 100 non-profitable stores. Sears is closing 15 Kmart stores and 48 Sears stores over the summer. Liquidation sales begin as early as June 14. The company has been unprofitable for years, and has some speculating that bankruptcy is in the future.