More tenants at Stony Point Fashion Park in South Richmond are closing.
Sur La Table, a cookware and kitchen retailer, is the latest retailer to say it is closing its store — one of the original tenants at the mall. A going-out-of-business sale has started.
That location is one of 56 of the retailer’s 121 stores that are closing after the Seattle-based chain filed for federal bankruptcy protection late Wednesday. Sur La Table said it has agreed to sell the remaining stores to affiliates of Fortress Investment Group.
The liquidations sales should take about eight to 12 weeks, a company representative said.
Also permanently closed at Stony Point is the Panera Bread bakery-cafe, according to a sign on the store’s door.
The closings come after cheap-chic fashion retailer H&M said in late May it had permanently closed its 20,000-square-foot store at Stony Point. Brio Tuscan Grille, another one of the mall’s original tenants, permanently closed there as the chain’s parent company filed for bankruptcy protection.
It is uncertain if CinéBistro, the dinner-and-movie theater that has been a tenant at Stony Point for nearly a decade, will reopen after its parent company filed for bankruptcy protection in late April. The theater’s local website no longer works. The Stony Point location is not listed as part of the CMX Cinemas’ website.
CinéBistro and CMX Cinemas are owned by Cinemex Holdings USA Inc. and its Cinemex USA Real Estate Holdings Inc. subsidiary.
As part of its bankruptcy case, the companies have asked the court to allow it to reject unexpired leases at more than a dozen locations across the country because the locations were not performing to expectations and are an economic burden that could impede a successful reorganization.
Cinemex has not made such a request for its Stony Point location.
“All we can say at the moment is that lease is not currently on any motion to reject, but we are still evaluating all locations,” according to a statement from Quinn Emanuel Urquhart & Sullivan LLP law firm, which is representing Cinemex in its Chapter 11 case.
The 30,000-square-foot CinéBistro opened in October 2010 next to Dillard’s in space formerly occupied by Copeland’s Cheesecake Bistro. It has been closed since March 24 because of stay-at-home orders to prevent the spread of the coronavirus.
At the time of its bankruptcy, Miami-based Cinemex Holdings operated 41 locations under the CMX Cinemas brand in 12 states, including Virginia. In late 2017, Mexican cinema chain Cinemex acquired Cobb Theatres, which had owned CinéBistro.
Stony Point has struggled in recent years as its retail and restaurant tenants have left.
Located off Chippenham Parkway, Stony Point is a 668,000-square-foot mall that opened in September 2003, two weeks after crosstown rival Short Pump Town Center opened.
Stony Point’s anchor tenants are Saks Fifth Avenue, Dillard’s and CinéBistro. The 84,000-square-foot Dick’s Sporting Goods store closed in September 2018 and remains vacant.
Stony Point’s owner, Starwood Retail Partners, has defaulted on a loan that was used to buy the mall and the two other shopping centers in 2014. Starwood was given an extension on its loan but couldn’t work out a proposed modification. Midland Loan Services, which was named as the special servicer, now has taken control of the malls.
The property is now being managed by The Woodmont Co., a commercial real estate firm based in Fort Worth, Texas.
Information from The Associated Press was included in this report.