Macy's closing downtown St. Paul store - My29 WFTC Minneapolis-St. Paul

Macy's closing downtown St. Paul store, clearance sale starts Jan. 7

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ST. PAUL, Minn. (KMSP) -

Thursday morning, Macy's announced the closing of its downtown St. Paul store along with multiple other store closures across the country.

Final clearance sales will begin on Monday, Jan. 7.

Macy's has been a fixture in St. Paul for 50 years, beginning in 1963 as Dayton's. For a brief time, Marshall Field's took over before Macy's became permanent in 2006.

For years, the store has struggled financially, but the company had incentive to stay open. A decade ago, the store took on a $6.3 million forgivable loan from the city as part of an asbestos abatement project. Repayment terms for the loan expired on December 31, 2012.

"In 2001, downtown St. Paul was in the beginning stages of recovery after several years of decline, and losing a big-box store like Macy's could have potentially jeopardized that recovery," said St. Paul Mayor Chris Coleman. "But today the face of downtown has changed, and we stand on a firm foundation that includes the building of hundreds of new housing units, a Lund's grocery store, the Lowertown regional ballpark, a revitalized Union Depot, and an almost completed Central Corridor light rail line."

The downtown St. Paul Macy's employs 153 associates. Employees displaced by the store closing may be offered positions at nearby stores. Eligible full-time and part-time associates who are laid off due to the store closing will be offered severance benefits.

St. Paul's Department of Planning and Economic Development staff have already begun to consider future plans for the site, which will be one of four downtown light rail stops when the Green Line opens in spring of 2014.

"While we hate to see Macy's leave St. Paul, we are very optimistic about the quick redevelopment of this site given its prime real estate location," said Matt Kramer, president and CEO of the St. Paul Area Chamber of Commerce.

"Downtown St. Paul's momentum and rebirth continues," Mayor Coleman said. "And much like when the ballpark or light rail was in the infant stages of great redevelopment ideas, the Macy's site provides the city with a tremendous opportunity to bring another part of our city into the 21st century."

The other Macy's store closures announced Thursday are in California, Massachusetts, Hawaii and Texas. Nine new and replacement Macy's and Bloomingdale's stores are under construction or in planning stages. New Macy's stores will open in Victorville, Calif., Gurnee, Ill., New York, Sarasota, Fla. and Las Vegas.

Across town, Macy's announced the consolidation of its two separate stores at Minnetonka's Ridgedale Center into one expanded location beginning in early 2014.

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