October 16, 2018
Business Latest News | Poll Questions | Mary Mayhew | Susan Collins | Election 2018

Gap to close Bangor, Maine Mall stores

Contributed photo | BDN
Contributed photo | BDN
The Gap store at Bangor Mall is one of two Gap stores in Maine that are being shut down, the clothing retailer announced Tuesday.

PORTLAND, Maine — Gap, a national retail clothing chain, plans to close its stores in the Bangor Mall and South Portland’s Maine Mall in January as part of a plan it announced earlier this year to close 175 stores nationwide.

Sean Piazza, a spokesman for the national retailer, wrote in an email Tuesday that both locations will close Jan. 26, 2016.

The company’s announcement that it would close 140 underperforming stores by January and 175 in total came as it faced more than a year of lagging sales, Bloomberg reported.

Piazza wrote the change “will help Gap showcase its brand in the most successful locations.”

The retailer’s selection of its Maine locations among its underperforming stores comes as both the Bangor Mall and Maine Mall have faced relatively low vacancy rates in recent years.

CBRE The Boulos Co. reported earlier this year that the vacancy rate in the Maine Mall area dropped in 2014 to about 11.1 percent from 13.5 percent in 2013.

Bev Uhlenhake, a broker with Epstein Commercial Real Estate, said in January the vacancy rate at the Bangor Mall was 7 percent in 2014, down from about 11 percent in 2009.


Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like