Destiny USA losing another long-term retailer

Brahm Buck

Syracuse, N.Y. — Another long-term retailer is kissing Destiny USA goodbye. The Disney store, a mainstay at the huge Syracuse shopping mall for many years, put up a sign last week announcing that the store will close on or before June 16. “Now it’s time to say goodbye,” the sign […]

Syracuse, N.Y. — Another long-term retailer is kissing Destiny USA goodbye.

The Disney store, a mainstay at the huge Syracuse shopping mall for many years, put up a sign last week announcing that the store will close on or before June 16.

“Now it’s time to say goodbye,” the sign states. “This location is closing on or before June 16th, 2021. But don’t worry! You can still continue to shop all your favorites and more with the whole gang on shopDisney.com.”

It’s one of 60 brick-and-mortar stores that Disney plans to close in North America this year as part of a bigger focus on its e-commerce business. That’s 20% of the company’s 300 North American stores.

Disney says it will evaluate closures in other parts of the world after completing the closures in North America.

To emphasize its new online focus, the company will give shoppers who visit the store in Destiny before its closes a coupon for free standard shipping from shopDisney.com.

The store is also running a 20% off sale (all sales are final).

Customers line up to enter the Disney store in Destiny USA in Syracuse on Sunday, May 23, 2021. Disney plans to close the store by June 16, 2021, as part of its greater focus on online sales. (Rick Moriarty | [email protected])Rick Moriarty | [email protected]

Disney stores carry clothing and accessories featuring popular Disney cartoon and movie characters.

Destiny, the largest mall in New York, has struggled with the loss of tenants that began with the trend toward online retailing, a shift that greatly quickened last year with the onset of the pandemic. The losses have included anchors J.C. Penney, Lord & Taylor and Best Buy.

Pyramid Management Group, the mall’s owner and operator, recently notified the city that it has hired counsel to evaluate a possible restructuring of $715 million in debt on the mall, which was recently appraised for $203 million.

See more:

Destiny USA, Syracuse’s mammoth mall, faces a crisis of debt and uncertainty (Part 1)

How it could end for Destiny USA: Some unpleasant ways out for the struggling mall (Part 2)

In Covid era, Destiny USA staggers under pre-existing conditions: debt, vacancies, Amazon

Destiny USA reveals pandemic’s toll on the mall: plunging rent income and ‘uncertainty’

Destiny USA is losing another anchor store

Destiny USA loses 15th major retailer in 5 years: See the full list

Destiny USA retailer to close as store shutdowns speed up

Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Contact him anytime: Email | Twitter | Facebook | 315-470-3148

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