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In October, Yaraghi Realty – part of Safavieh – acquired the Stamford mall for an estimated $20.15 million.
“If we take care of the health, then we can reopen the economy stronger,” Mayor David Martin declared.
The new owners plan “to immediately stabilize and revitalize the property, while working on further reinvigorating their commitment to the city of Stamford and the existing retail tenant base."
“We thought it would be crazy, if not a little irresponsible, to not have it take place this year," says the annual event's founder and executive director Jon Winkel.
The luxury apparel retailer joins such names as Neiman Marcus, J.Crew, J.C. Penney, and Chuck E. Cheese to file for bankruptcy over the past few months.
Employees at the restaurant were first furloughed temporarily on March 17, a move that was originally envisioned to last six months or less.
The Westfield Trumbull and Danbury Fair Mall also expect to open on the 20th, while Norwalk's SoNo Collection is reportedly readying itself to do so as well.
The fate of the Stamford Town Center, which was put up for sale in October, is unclear.
“Our vacancy rate is an overall 5% throughout the town,” says Director of Economic Development Thomas Madden. “And we’re not a big-box place – we have a lot of Mom and Pop stores. That speaks volumes about the healthy market we have.”
Taubman Centers, the real estate investment trust that owns the 853,000-square-foot facility at 100 Greyrock Place, announced in October that it was putting the mall up for sale.
While the county's commercial space vacancy stands at 26.7% -- and is expected to drop to 23.5% next year -- that still compares unfavorably with the nationwide rate of 12.2%.
Other new tenants include including Perfume World and memorabilia shop Sports Fan.
Meanwhile, most eyes are trained on The SoNo Collection in Norwalk, where several stores are scheduled to open Oct. 11.
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