The specialty gift retailer Things Remembered is reportedly planning to file for bankruptcy and close all of its stores. No official filing has been made, but sources close to the matter have been talking to various media outlets. This would be a second filing, the first being to restructure in 2016.
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Things Remembered may follow in the footsteps of Gymboree, the owner of Crazy 8, which filed for bankruptcy a second time earlier this month. The company will close all Crazy 8 and Gymboree stores.
The third closure of Jeggings Park is expected later this month, according to an employee working at the store. Signs are offering nearly every product in the store on clearance. While it sells various womens apparel, the featured item is leggings.
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As consumer shopping habits change, some malls are struggling to hold on to tenants. The average lease length at malls has dropped from six years to four and a half, according to CoStar.
The Mall at Fairfield Commons also recently lost major anchors when Elder-Beerman and Sears closed stores as part of their bankruptcy plans. The shopping center owned by Washington Prime does have plans to fill the Sears space with Round1 Entertainment on the bottom floor and furniture store The RoomPlace on the top.
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