History
Raleigh Springs Mall opened in 1971. Developed by the Edward J. DeBartolo corporation (now known as Simon Property Group) as one of the first two malls in the Memphis area, it featured four major anchor stores: national chains JC Penney and Sears, as well as local chains Lowenstein's (which was sold to Dillard's in 1982) and Goldsmith's. A Woolworth dime store also served as a junior anchor next to JC Penney; after the Woolworth store closed in the 1990s, it was replaced with a twelve-screen multiplex (that closed December 5, 2011).
Initially the dominant mall in the Memphis area, Raleigh Springs Mall would lose several stores over time as newer malls opened, such as Hickory Ridge Mall and Mall of Memphis. Hickory Ridge Mall, in turn, has lost most of its national tenants as well, while Mall of Memphis has been demolished; both of these malls lost most of their business to the newer Wolfchase Galleria, which opened in 1997.
By the 2000s, Raleigh Springs Mall had begun to lose many of its tenants. In early 2003, Dillard's announced that its location at Raleigh Springs Mall would be one of several stores closed that year. Goldsmith's parent company Federated Department Stores (now known as Macy's, Inc.), who was in the midst of significant corporate reorganization at the time, announced that the Goldsmith's location at Raleigh Springs would be shuttered by April of the same year. Finally, the JC Penney store (which had been downgraded to a JC Penney outlet center) was closed as well, leaving Sears as the only anchor store.
Starting in 2005, Wal-Mart began negotiations with Simon Property Group to open a Supercenter at the mall. These plans would call for the demolition of the former JC Penney space, as well as the mall's movie theater, to make way for the Supercenter. However, these plans never materialized, and Wal-Mart signaled its intentions of staying at its current location when it started renovating it in early 2010.
In January 2011, Sears confirmed that its location in the mall was to close on April 3, 2011. This left the Raleigh Springs Mall without an anchor store.
Demolition on the former JC Penney anchor store at the north end of the mall began in November 2012. In April 2013, the demolition was described as "incomplete".
Read more about this topic: Raleigh Springs Mall
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