Macy’s Inc. told its Fountain Place employees today that the downtown Cincinnati store will close by mid-March as part of the 100 store closings that the company announced last August, according to our media partner, WCPO.
The 54 employees impacted will be offered severance packages or jobs in other Macy’s stores, WCPO reported.
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The company said it remains committed to Cincinnati, with 3,800 jobs at six other local stores, corporate headquarters and suburban office locations. In a prepared statement, the company stressed the closure decision followed careful consideration.
“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,” the statement said. “We deeply appreciate the loyalty of our customers and associates and remain committed to the greater Cincinnati area.”
The retail giant said it looked forward to continuing to serve its customers at one of its six nearby locations, including Macy’s Anderson Towne Center, Kenwood Furniture, Kenwood Towne Centre, Northgate Mall, and Tri-County Mall.
The closure could have a ripple effect on other downtown Cincinnati tenants. Both Saks Fifth Avenue and Tiffany’s have co-tenancy clauses that allow them to terminate their lease if other big anchors leave the central business district, according to WCPO.