With word that Sears is closing its Alton Square location, local leaders are predictably reacting with disappointment. Late Thursday, Sears Holdings announced that its store at the mall will be among six of its stores that will close in Illinois as part of a massive restructuring of the company, but no timetable has been set. Monica Bristow, RiverBend Growth Association President, says this is disappointing news.
Alton Mayor Tom Hoechst says he is devastated, but the city doesn't stand to lose any sales tax revenue.
Sears has had a location at Alton Square for about 20 years. The mall management was recently taken over by Cassidy Turley, a commercial brokerage and property management company from St. Louis. They have stated in the past they plan to continue to run the mall while looking for new tenants.