Is Great Lakes Mall in Mentor on the rebound after filing for bankruptcy?
MENTOR, Ohio (WOIO) - Months ago it was unknown whether or not Great Lakes Mall would still be standing because of its financial situation.
“There’s always an effort by the city, by Great Lakes Mall, by private developers to re-energize it,” said Kevin Malecek, the Director of Economic Development & International Trade for the city of Mentor.
Washinton Prime Group owns Great Lakes Mall.
It filed for Chapter 11 bankruptcy.
However, the mall is now on the rebound, according to Malecek.
“There’s a reorganization that happens in corporations. They were able to come out of that, reorganize their portfolio. And they’ve come out not only stronger at Great Lakes Mall, but otherwise,” said Malecek.
The retail industry is an evolving industry that has forced mall owners to change and adjust how they do business.
That includes bringing in an exhibit and interactive Instagram museum.
“You’ve seen kind of a transition where they want to bring more people into experimental types of experiences that are out there. As I mention WonderCleveland, Michelangelo’s Sistine Chapel and I think you’re going to have a lot more of those types of things at the mall to bring people in,” said Malecek.
On top of that, they’ve added additional retail stores like Rose & Remington.
“You have Dick’s, JCPenny, Dillards, they are doing very well,” said Malecek.
Statement from Washinton Prime Group:
“Great Lakes Mall has had great success seeking out new, exciting tenants like Rose & Remington, Wonder Cleveland and Asian Mart plus has a strong history of encouraging and helping grow local entrepreneurs into successful businesses. These new additions are just a few examples of Great Lakes Mall’s commitment to creating a shopping center for the community where guests can shop and enjoy a variety of modern dining options and engaging events and activities.”
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