News Updates: January 2006
from the month of January 2006 are listed below.
Filene's to commence liquidation on January
Written by Justin on January 20, 2006 at 11:26PM
Can two seniors make a difference?
- The erstwhile New England icon
of Filene's is beginning its last real week in business Monday.
Beginning on January 29, Filene's stores at Downtown Crossing in
Boston, the Burlington Mall in Burlington, Northshore Mall in Peabody,
Cape Cod Mall in Hyannis, South Shore Plaza in Braintree, Westgate Mall
in Brockton, and of course, the Natick Mall in Natick. So far,
Federated is yet to announce the discounts to be expected at Filene's
closing stores. Customer response is expected to determine how fast the
discounts will escalate, and how quickly the stores will be shuttered.
- Out of state, closing sales at
the Maine Mall in South Portland, ME; Pheasant Lane Mall in Nashua, NH;
Fox Run Mall in Newington, NH; Warwick Mall in Warwick, RI; and The
Mall at Rockingham Park in Salem, NH, amongst others, are expected to
begin. Southern California will also be treated to these large-scale
liquidations at Robinson's-May stores. And around the country, St.
Louis, MO-based Famous-Barr, Washington, D.C.-based Hecht's,
Pittsburgh, PA-based Kaufmann's, Indianapolis, IN-based L.S. Ayers, and
Philadelphia, PA-based Strawbridge's will begin the sales that will
lead to the closure of nearly 400 department stores.
- More local details can be in
the Boston Herald, online at http://business.bostonherald.com/businessNews/view.bg?articleid=121809.
Written by Justin on January 20, 2006 at 10:44PM
A lack of handicapped spaces at the Natick
Written by Justin on January 15, 2006 at 1:47PM
Federated to sell Lord and Taylor chain
- A few days ago, the MWDN
reported on the lack of handicapped parking spaces available at the
Natick Mall. Apparently the construction of Parking Garage F has closed
many of the parking spaces allotted to handicapped mall visitors,
specifically around the area of Sears, which ironically happens to be
the oldest-targetting department store at the mall. The story focuses
on an elderly Natick couple who are upset with the lack of handicapped
spaces at the mall. The story is at http://www.metrowestdailynews.com/localRegional/view.bg?articleid=119109.
- And I've put up a new
commentary on the state of retailing in New England at Beyond Retail.
Check it out.
Written by Justin on January 13, 2006 at 4:48PM
4 tenants in the running for Macy's space
- One of the largest business
stories today regards the sale of the Lord and Taylor chain. Federated
Department Stores, which acquired Lord and Taylor by means of the May
Department Stores merger, has announced that the chain is up for sale.
The chain has shuttered locations in recent years (the Emerald Square
and Providence Place malls as two examples), but generated $1.5b in
sales in 2005.
- What does the sale mean for the
area? Lord and Taylor stores at the Natick Mall, Burlington Mall,
Prudential Center, and others are unlikely to change name or close, as
Federated intends to sell the entire chain to one company. Most are
expecting a group of private equity investors to acquire the chain,
much like how Neiman Marcus changed ownership last year. For more
information on the sale, check out a Google News search at http://news.google.com/news?hl=en&tab=wn&ie=UTF-8&q=lord+%26+taylor.
Specifically, there is a Boston Globe story at http://www.boston.com/business/articles/2006/01/13/federated_will_sell_its_lord__taylor_unit/
and a Chicago Sun-Times story at http://www.suntimes.com/output/business/cst-fin-lord13.html.
Written by Justin on January 12, 2006 at 11:07PM
Parking Deck F coming soon
- According the an article in the
Boston Globe, the Natick Mall is considering four different tenants to
potentially take the Macy's space at the mall. As previously stated,
the Macy's store at the Natick Mall will be vacated once the Macy's
brand relocates to the Filene's building by this fall. What could the
tenants possibly be? Could Bon-Ton, which recently acquired stores from
Saks Incorporated, plan an expansion into the Boston area? Or could
Dillard's take advantage of the millions of abandoned square feet in
northeast to launch a massive invasion? Either way, it looks as if the
"lifestyle center" plans may be off the table. The mall plans to have a
decision by spring.
- Additionally, the story also
comments that when the Filene's at The Mall at Chestnut Hill becomes a
Bloomingdales, the other Bloomies will not close. Rather, the
free-standing Bloomingdales store, which sells women's apparel, will
likely be sold or leased.
- The story is online at http://www.boston.com/news/local/articles/2006/01/08/malls_ponder_retail_life_after_filenes/.
Written by Justin on January 11, 2006 at 11:07PM
Downtown Framingham Friendly's shuttered
- The Natick Mall is planning to
add another letter to the parking scenario. Along with Parking Garages
A (near Macy's and Filene's), B (stretching from Sears to Macy's), C
(stretching from Sears to Lord and Taylor), D (to be located outside of
the future Nordstrom) and E (to be underground near the future Neiman
Marcus), the mall will add F to the letter family. Parking Deck F, from
the sound of the article, will be located either in the parking area
just north of the Macy's entrance or on the site of the current Parking
Deck B. Stay tuned for more updates.
- In related news, construction
on the Nordstrom and Neiman Marcus buildings is slated to begin in May.
You can read more about these two stories at http://www.metrowestdailynews.com/localRegional/view.bg?articleid=118480.
Written by Justin on January 11, 2006 at 10:59PM
Happy New Year 2006!
- First, apologies for the lack
- But there's big news in
Downtown Framingham. The Friendly's restaurant on Union Avenue was
closed at the end of Christmas Day. Located at 234 Union Avenue, the
location had been open since 1966, and serves as a blow to downtown,
leaving Dunkin Donuts as the only chain restaurant in the downtown
Framingham area. The closing came as Friendly's shuttered nine of the
worst performing locations in New England.
- The building is listed for sale
with DJM Asset Management; more information on that, including building
floorprints, can be found online at http://www.djmasset.com/Property/northeastrestaurants/MA/FR128.htm.
The MWDN also reports at http://www.metrowestdailynews.com/businessNews/view.bg?articleid=118550.
Written by Justin on January 1, 2006 at 12:00AM
- The 2005
Year in Review is up. Not
retail news going on, but when it does, we'll keep you updated.
Copyright 2006 Framingham/Natick Retail and Tardiff.net. All Rights