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March 27, 2009

No more Macy’s at Crestwood; store gone for good

Filed under: economics — Tags: , , — ManInBlack @ 2:14 pm

CRESTWOOD – The Macy’s store in Crestwood has gone dark.

Macy’s completed its liquidation sale and closed the store March 15, a spokeswoman for the Crestwood Court mall said today. The closure came just over two months after Macy’s announced plans to close the close the Crestwood store and 10 other underperforming stores around the country.

The closures are costing about 960 Macy’s workers their jobs. About 175 job cuts resulted from the store closing in Crestwood.

In addition, the city of Crestwood is taking a financial hit from the loss of sales tax revenue the Macy’s store provided payday loan no faxing.

Work is still under way to convert much of the former Crestwood Plaza into space for arts groups. A spokeswoman for the mall’s manager says arts groups should be using 65 store spaces by the middle of April. Whether the 150,000-square-foot Macy’s store might become part of the arts conversion is yet to be decided, the spokeswoman said.

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