It is onward and upward for the Cherry Lane Shopping centre after the announcement that three stores will be closing operations at the end of April.
“Shopping centres are always evolving and working with leasing agents to enhance the centre’s merchandising mix to improve customers shopping experience. With Cherry Lane Centre’s sales showing increases in 2015 and the Okanagan market being strong we have been talking to new and exciting retailers for the Centre,” said Judy Richards, Cherry Lane Shopping Centre general manager, in an email.
Comark Inc., the parent company for Bootlegger, Cleo and Ricki’s announced their protection from creditors on March 26, leading to the closing of 56 Canadian retail outlets, including three stores in the Cherry Lane Shopping Centre. Comark said in a press release it will be closing under-performing stores over the next 30 days as part of company-wide restructuring.
Richards said the owners of the centre are committed to the Shopping Centre, Penticton and the Okanagan. A new renovation is coming down the pipe as well, currently in the design stages.
“We are confident that the future of Cherry Lane Shopping Centre will remain a strong and vibrant part of the Penticton Community,” Richards said.