Finally, Some Good News for Quaker Bridge Mall
After months of bad news, Quaker Bridge Mall in Lawrenceville, NJ may finally have gotten some good news.
Over the past few months, Lord & Taylor, Justice, Sur La Table, and Lane Bryant have all announced that they would be closing their locations inside of QB Mall, but according to retailwire.com, the mall’s owner, Simon Property Group, and retail development owner, Brookfield Property Partners, have agreed in principle to a deal which will allow struggling department store chain, J.C. Penney, to remain in business.
In May, J.C. Penney had filed for Chapter 11 bankruptcy protection and many analysts believed that the company would not be able to overcome its financial problems.
When Lord & Taylor closes its store in Quaker Bridge Mall, J.C. Penney and Macy's will be the mall’s only remaining anchor department stores. (Sears vacated its store at Quaker Bridge Mall in 2018.)
According to retailwire.com, Simon Property Group and Brookfield Property Partners partnered on a similar deal with popular clothing store chains Forever 21 and Aeropostale.
Over the last decade or so, J.C. Penney has tried different ideas to try to bolster sales. For example, JCP has a partnership that allows them to feature “mini” Sephora shops inside of their own stores.
During that time, J.C. Penney also entered into partnerships with celebs and designers like Martha Stewart, Jonathan Adler, and Betsey Johnson, as well as the TV show Project Runway and the magazine InStyle.
Simon Property Group also owns Oxford Valley Mall in Langhorne, PA, so the announcement regarding J.C. Penney should also be good news for that shopping center.