Tag Archives: Northwoods Mall

Books, Business

Waldenbooks in Peoria to close this month

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Waldenbooks in Peoria's Northwoods MallWaldenbooks in Northwoods Mall is closing for good this month.

Waldenbooks’ parent company Borders Group, Inc., released a statement in November 2009 that it would be closing 200 Waldenbooks stores this month in order to improve the chain’s profitability. Borders Group, headquartered in Ann Arbor, Michigan, lost $39 million the third quarter of 2009. Border Group CEO Ron Marshall explained, “Through this right-sizing, we will reduce the number of stores with operating losses, reduce our overall rent expense and lease-adjusted leverage and generate cash flow through sales and working capital reductions.”

Also closing this month are Waldenbooks stores in Aurora, Calumet City, Danville, Gurnee, Joliet, Lincolnwood, Marion, and Sterling. The Waldenbooks in Galesburg closed a year ago this month. The Borders superstore in the Shoppes at Grand Prairie is unaffected.

The history of Waldenbooks in a nutshell: In 1933, Lawrence W. Holt and Melvin T. Kafka founded a company “they believed would help people cope with the effects of the Depression. Specifically, Holt and Kafka’s new company lent popular books for three cents a day, saving people the cost of purchasing.” This sounds similar to the way we rent movies and video games today. Once cheap paperback books started being published in the 1950s, Kafka retired and Hoyt took over the company. In 1962, the company started opening retail stores — selling books instead of renting them. It was named after the book Walden by Henry David Thoreau. The company was acquired by a retail conglomerate called Carter Hawley Hale in 1969. It was acquired by many other companies over the years, including K-Mart, which also acquired Borders. In 1995, Borders and Waldenbooks initiated a public offering, eventually buying out K-Mart’s ownership interest.

I’m not sure when Waldenbooks opened in Northwoods Mall, but it wouldn’t surprise me if it were an original tenant. It’s been there as long as I can remember. Its departure will leave Northwoods without any bookstore. The mall’s other bookstore, B. Dalton Booksellers, closed several years ago after its parent company, Barnes & Noble, built a superstore in the Glen Hollow shopping center.

CityLink

Don’t blame Northwoods for bus route changes

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CityLink LogoThis past week, the Journal Star reported on changes being made to CityLink bus routes:

Beginning Sept. 8, Northwoods Mall will no longer be used as the unofficial – and privately owned – northern transfer station for CityLink buses.

In an agreement with CityLink and the mall’s ownership, Simon Properties, the bus service will reduce the number of routes to the mall from six to two. That reduces the number of buses that pick up and drop off at the mall’s main entrance by J.C. Penney from 250 to 50 a day.

This news has elicited some strong negative reaction to Northwoods. For example, PeoriaIllinoisan has found evidence that Simon has done similar things at other properties they own, in one case even admitting on tape, “We want to reduce the negative, um, aspects of the Center — one of them is the young, black customer.”

I was initially put off by Simon/Northwoods’ decision myself. However, as more details have emerged, I’ve changed my mind.

First of all, Northwoods is not eliminating bus service to their front door — there will still be 50 buses a day going to Northwoods. So it’s not like they’re trying to keep public transit riders out of their facility, or kick all the buses to the perimeter of the property. All they’re saying is that they “[don’t] want to be the de facto north Peoria transfer station any longer.”

And that brings me to my second point: It’s not Northwoods’ responsibility to provide a transfer station for CityLink. Whatever you may think about Simon Property Group, their past actions, or their perhaps secret motivations, the fact is that it is unreasonable to expect a private business to provide their facilities as a “de facto” transfer station. They get no subsidy to provide those services, and yet those services cost money. Many riders are simply using their property to change buses, not shop at Northwoods. Bus drivers are using their property to rest and use the bathroom (what they call “recovery time”), not shop at Northwoods. All that additional traffic puts wear and tear on their parking lot, which they have to maintain on their own dime, unlike downtown businesses who get their parking subsidized by the City of Peoria.

It is CityLink’s responsibility to provide a transfer station where one is needed, at their own expense. It appears that’s just what they’re going to do, as the end of the newspaper report states, “The transit district is looking for land and money to build a transfer station in the mall’s vicinity.” Isn’t the site of the old Denny’s at Sterling and I-74 for sale?