ANOTHER BANKRUPTCY

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IMG_2999.JPG p1 blackfridayOver the last several months we have seen retailers such as Linen N Things, Circuit City and Island Ford disappear from Staten Island’s busy avenue of shopping.

Now our Mall has  filed for Chapter 11 bank protection!  Analysis feel that aggressive expansion, large debt and the credit crisis is the cause, not performance.  But traffic is not what it was!

Opening in 1973, with Macy’s, Sears and J.C. Penney’s as the anchor stores, the shopping center has 1.2 million sq. ft. of retail space and 7,200 parking spaces.

Hope that this restructuring effort will prove effective for the largest shopping area in Staten Island.

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