1990s
The nearby Beloit Plaza began losing its inline stores due to competition from the upgraded Janesville Mall. When Bergner's declared Chapter 11 bankruptcy in 1991, its store at Beloit Plaza was closed, and the Bergner's at Janesville Mall was re-branded as Boston Store. The mall was remodeled again in 1991, this time featuring a brighter, pastel-based color scheme; in addition, the fig trees were removed.
The intersection of State Highways 14 and 26 near Janesville Mall became host to several big box chains. Wal-Mart and Target added facilities near the existing ShopKo, Kmart, and Blain's Farm and Fleet locations. As these new stores attracted customers to the area, it also attracted new customers to Janesville Mall; the anchors were experiencing tremendous sales gains, though the mall itself suffered as tenants left the mall for less-expensive parcels adjoining the newer big box stores.
Janesville Mall's management approached the Sears chain again in 1996 in a second attempt to bring a Sears anchor to the mall. This time, Sears was offered the opportunity to shutter its Beloit Plaza store in favor of a new store at Janesville Mall; various financial incentives, including tax breaks, were also part of this deal. Sears accepted the offer and, by 1997, a new 110,000-square-foot (10,000 m2), two-story Sears was built onto Janesville Mall as a fourth anchor, while the older Beloit Plaza Sears was closed.
In 1998, the mall was acquired by CBL & Associates Properties, Inc., a real estate trust based in Tennessee. That same year, Kohl's expanded its store into what had previously been smaller mall shops. The mall's movie theater closed, with Chuck E. Cheese's taking its place.
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