Macy's closes store blocks from its HQ in downtown Cincinnati - Cincinnati News, Weather, Sports from FOX19 NOW-WXIX

Macy's closes store blocks from its HQ in downtown Cincinnati

Provided Provided

Macy's Fountain Place location, just blocks away from the retailer's national headquarters, will close its doors.

A number of city leaders have referred to Macy's prime real estate right across from Fountain Square as the most important block in the city. Now, that property is up for grabs -- Macy's lease ends this month.

Macy's announced it would shutter 100 stores in August of 2016. A large number of those stores closed in 2017, but nearly 30 locations remained unnamed.

Cincinnati's downtown location added its name to the list Wednesday.

The department store has struggled in recent years as many consumers have shifted their shopping online to retail giant Amazon. While Macy's looks to regain their footing in the future, city leaders see this as a potential opportunity.

"It's a clean slate at the No. 1 location we have downtown -- 5th and Vine," said David Ginsburg, president and CEO of Downtown Cincinnati, Inc. "So this is a great opportunity for owners of that property and the city and all of the partners to kind of think what's going to be next there."

So what does this mean for you? Typically, when a Macy's closes a store, clearance sales start almost immediately and then doors close in a matter of weeks. So look for deals at the Fountain Place location.

The retailer released this statement:

"Macy’s, Inc. has been reviewing its real estate portfolio across the country to see if there are opportunities to improve the use of our assets. After careful consideration, Macy’s has decided to close the Fountain Place store in Cincinnati.  This store closure is part of the 100 planned store closures announced in August 2016.

"Macy’s shared this information with store associates today, January 3, 2018, because they are important to our organization and we wanted to make sure they heard about this change from the company. Wherever possible, we will place employees in good standing in open and available positions in a nearby store.  Regular, non-seasonal employees who we are unable to place at nearby locations will be eligible for severance, including outplacement resources.

"While closing a store is always a difficult decision because of the impact on our customers, our associates and the community, Macy’s is delighted to have served this community over the years.  We deeply appreciate the loyalty of our customers and associates and remain committed to the greater Cincinnati area.  We look forward to continuing to serve our customers at one of our six outstanding nearby locations, including Macy’s Anderson Town Center, Kenwood Furniture, Kenwood Towne Centre, Northgate Mall, Tri-County Mall and at and on the Macy's app."

Copyright 2018 WXIX. All rights reserved.

Powered by Frankly