Downtown Younkers store will close in August, Saks announces
By REGISTER STAFF REPORTS
June 3, 2005
The downtown Des Moines Younkers store will close in mid-August, its owner announced today.
The 141,000-square-foot store has been located there for 106 years. YounkersÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ parent company, Saks Inc., bought the building last month.
"This planned closing is consistent with our strategy of focusing our resources on our most productive locations," Michael R. MacDonald, chairman and chief executive officer of Carson Pirie Scott & Co., which includes Younkers, said in a statement.
"We remain very committed to the metropolitan Des Moines area, where we will continue to meet the needs of our customers in our new Jordan Creek store, along with our Valley West, Merle Hay, and Southridge locations."
In addition to the downtown Des Moines store, Younkers operates 19 locations throughout the state.
The Younkers Tea Room, located in the downtown store, will also close.
Younkers employs approximately 60 employees in the downtown Des Moines store and approximately 50 in the Tea Room, Saks said. The employees either will be offered transfer opportunities to other area stores or will receive appropriate severance packages, according to a news release.
Southern Realty Co., a partnership based in Illinois, sold the downtown landmark to Saks for about $5.2 million.
Younkers has been leasing space in the building at 713 Walnut St. since Southern Realty bought the property for $9 million in 1989. YounkersÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ lease expires in August.
Future plans for the building are yet to be determined, Saks said.