Macy’s departure would be a major blow to Water Tower Place. Macy’s occupies 170,000 square feet on eight levels, CBS Crain’s reports.
The Macy’s State Street store suffered extensive damage in recent looting. The store was also severely damaged back in May.
Macy’s has not responded to CBS 2’s request for comment.
Mayor Lori Lightfoot said the city is aware Macy’s has been struggling in this new economy as business trends shift. She said this is a decision made before COVID-19 impacted businesses.
Macy’s talked about closing 100 stores, but it’s hardly likely a top-performing store on the Magnificent Mile was one of them. After the second and last riot-looting escapade, investment in the Magnificent Mile is looking like a loser.
The BLM lunatics think looting stores like Macy’s is reparations and they have insurance to cover it:
— Detective William Robert Nolan – NYPD (retired) (@William90787834) August 12, 2020
— Andromache (@Androma33) August 14, 2020
Watch the news report: