Report: Macy's inside Providence Place listed for sale
Nov 14, 2024
PROVIDENCE, R.I. (WPRI) — Providence Place's future remains up in the air as the mall could be set to lose yet another anchor store.
Macy's, which as Filene's was one of the mall's original anchor tenants when it first opened in 1999, has been listed for sale, according to The Boston Globe.
Providence Place was ordered into receivership last month after the mall's management company — Brookfield Properties — defaulted on a $259 million debt.
TARGET 12: Providence Place mall turned over to veteran RI receivership attorneys
Rumors began swirling over the retailer's likely departure from Providence Place over the summer, though neither Macy's nor the mall has confirmed that.
This comes after Macy’s executives warned investors earlier this year that the retail giant would close 150 unproductive namesake stores by 2026.
It's unclear exactly when the retail space was listed or for how much it is being sold.
Providence Mayor Brett Smiley's press secretary told 12 News that Smiley "wasn't aware of the sale" prior to Thursday's report.
SEE ALSO: Could Providence Place survive without Macy’s?
Providence Place has undergone some changes in the age of the online shopping. Nordstrom, a former anchor tenant, left the mall in January 2019. The high-end department store was quickly replaced by a Boscov’s.
This is a developing story. Check back for updates.
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