Forever 21 Closing @ Town Center

[TheCat]

Forever 21 is shutting its fashion retail store March 20 at St. Johns Town Center, laying off 63 employees.
Much merchandise was marked down by at least 30 percent as of Monday.

The company filed a Worker Adjustment and Retraining Notification Notice on Monday with the state, citing the number of layoffs and the date.

Ken Daga, manager for service and training at the store, said the company had operated the 16,000-square-foot store at the Town Center for six or seven years.

He said the chain is not renewing the lease, although he said he could not comment about why.

The store is at 4663 River City Drive. Forever 21 also has a store at The Avenues mall 7 miles south of the Town Center.

The Los Angeles-based company sells women's, men's and children's clothing and accessories and focuses on current trends at value prices. The Town Center store is smaller than most and stocks only women's goods.

Forever 21 was founded in 1984 and operates more than 730 stores in 48 countries.

Forever 21's closing comes after the Aerosoles women's shoe store in the Town Center closed in January at 4712 River City Drive.

http://www.jaxdailyrecord.com/showstory.php?Story_id=547004

[spuwho]

Some have said that the rents on the "inside" of SJTC (on the inside streets) are getting stiff.

The list of crash and burns since the place opened is not chronic, but healthy.

Swoozie's moved to another part of the complex not run by Simon, the rents inside the drive was just too high.

When the new developments open across the street ("Town Center Promenade"), I suspect there will be an exit of several tenants looking for lease rate relief.

[ProjectMaximus]

Ah, I posted this on Facebook last Thursday when we happened to be passing by and saw the clearance. Employee told us she'd have the opportunity to interview at the Avenues location but decided it was too far from home.

Forever 21 was a bit odd as the only discount retailer on that end of the strip with all other luxury brands.

[mtraininjax]

The building that used to house Lattitude 30 is available, rent is at the right price too.

[avonjax]

There product is pretty cheap both in price and quality. That's a great space that if I'm not mistaken was supposed to be Crate and Barrel. I wish they would open in Jacksonville. I don't think that space will stay empty very long.

[ben says]

I think this is more about company restructuring and change of plans than some sort of 'failure' or high rent. They just closed their 5th Ave store too, and word on the street is they may close their King St Charleston one as well..