Trouble At New York’s Biggest Mall! 4 Major Stores Close or Plan to Close

What's going on with New York's biggest mall? The good news is that Destiny USA, located in Syracuse, celebrated it's 34th Anniversary on October 15th. The bad news is the recent struggle to keep space filled with stores.

3 big brands, including T.G.I. Fridays, At Home and World of Beer, have either closed recently or plan to close in the near future. Today you can add another major retailer to the list of the soon to be closed.

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On Tuesday October 29th, according to a New York State Work Adjustment Retaining Notification (WARN), Nordstrom Rack will let their lease at Destiny USA expire and move out of the mall. Last day is scheduled to be February 1, 2025. This move is expected to affect 20 employees.

According to Syracuse.com, Destiny USA is in danger of foreclosure after attempting, and failing, to secure a one-year extension of the mall's $430 million dollar overdue mortgage loans. Destiny also failed to make their required $38.9 million dollar payment that would have qualified them for the extension.

Pyramid Management Group, based out of Syracuse, recently lost control of Palisades Center Mall in West Nyack, NY and is in danger of losing ownership. Pyramid's New York properties are not the only ones struggling. According to Mass Live, Hampshire Mall in Hadley, Massachusetts started foreclosure proceeding in May of this year.

It is unlikely that these malls will go out of business but could see a change of hands in regard to ownership and/or handling of finances.