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J.C. Penney Co.

Park Plaza, at Markham Street and University Avenue in Little Rock, is caught up in the brick-and-mortar sales decline that was evident before the COVID-19 pandemic but has been worsened by it. Park Plaza, like a growing number of malls today, appears to be headed for foreclosure.
Banking & Finance / Restaurants & Food / Retail

Park Plaza Owner Files Chapter 11 Bankruptcy

Park Plaza Mall owner CBL & Associates Properties Inc. of Chattanooga, Tennessee, files Chapter 11 bankruptcy, seeking to restructure its debt and survive amid rising e-commerce and declining in-store traffic. read more >
Park Plaza has a dozen storefront vacancies and recently lost Zoes Kitchen, a pandemic casualty. Still, the mall was far from empty on a recent Sunday, with consumers basking in sun through the mall’s signature skylights.
Business Services / Government & Politics / Investments

Can Malls Shake Off the Cobwebs?Lock Icon

A Jonesboro real estate broker is among those who sees a potential for malls transforming after the pandemic, with a silver lining possibly being local stores taking over chain space. read more >
The U.S. Department of Commerce
Public Companies / Real Estate / Restaurants & Food

US Retail Sales Rise for 4th Straight Month As Growth Slows

Americans kept spending in August, but the pace of that growth is slowing as millions of people who lost jobs have now lost a $600 a week boost in their unemployment checks. read more >
Park Plaza, at Markham Street and University Avenue in Little Rock, is caught up in the brick-and-mortar sales decline that was evident before the COVID-19 pandemic but has been worsened by it. Park Plaza, like a growing number of malls today, appears to be headed for foreclosure.
Banking & Finance / Business Services / Government & Politics

Park Plaza at Risk in Mall Foreclosure EraLock Icon

Even before the coronavirus upended the world, malls were struggling to attract customers. Now the situation is worse. read more >
The 50,000-SF former Gordmans location at Shackleford Crossings in west Little Rock is marked for repositioning as the home of a high-end entertainment tenant.
Business Services / Education / Health Care

Shackleford Crossings’ $10.5M Sale Underlines Retail WoesLock Icon

2019 was the end of the line for Atlanta investment firm Invesco’s ownership at Shackleford Crossings. After eight years, it decided to cut its losses and sell its remaining stake in the west Little Rock retail center. read more >
Investments / Public Companies

Retailers’ Results Show Sharp Divide Between Losers, Winners

While big-box stores and off-price retailers have responded faster to shoppers' increasing shift online, many mall-based clothing chains and department stores continue to suffer weak sales. read more >
Projects on former parking space at McCain Mall in North Little Rock illustrate how shopping centers are making unneeded car spots into sites for dining and entertainment. Dillard’s is leasing McCain sites to Tacos 4 Less and the Purple Cow, seen in the background.
Construction / Investments / Media & Marketing

Parking Lot Lease Deals at McCain: A Whole New Mall Game

Companies like Dillard’s Inc., J.C. Penney and Macy’s are surveying their vast parking areas and seeing new opportunities for dining and entertainment venues. read more >
Malls are challenging their property tax assessments as market values fall.
Government & Politics / Legal / Real Estate

As Market Values Fall, Malls Seek Lower Tax AssessmentsLock Icon

Two Arkansas malls are challenging their 2017 property assessments, saying they are millions of dollars too high, a move that could become a trend as market values fall for malls and department stores struggling to attract shoppers. read more >
Some malls have been decimated by increasing retail sales online, but Park Plaza in Little Rock boasts more than a  90 percent occupancy rate, with an H&M store scheduled to move in by the end of the year.
Business Services / Government & Politics / Media & Marketing

Municipal League Seeks Special Session to Collect Online Sales TaxLock Icon

It may be futile, but several Arkansas cities are urging Gov. Asa Hutchinson to hold a special session to pass legislation to force out-of-state online retailers to start collecting sales taxes. read more >
Stephen Quinn
Media & Marketing / Public Companies / Retail

Wal-Mart’s Chief Marketing Officer to Retire

The world's largest retailer confirmed Thursday that its chief marketing officer Stephen Quinn is retiring, and it's tapping into the talent of former Target executive Michael Francis as a consultant. read more >
Bruce Burrow
Banking & Finance / Education / Legal

Liberty Bank Looks to Lock Up Little Rock Land Owned by Bruce Burrow

Liberty Bank of Arkansas is targeting another of Jonesboro developer Bruce Burrow’s Little Rock properties after he allegedly defaulted on a loan worth nearly $2 million. read more >