A UNIQUE mall in Overland, Kansas, has filed for bankruptcy with $60,000 in debts.
The store remains open for now despite its financial woes.
Metcalf Antique Mall is a huge antique store with over 150 dealers in the Regency Park Shopping Center of Overland, Kansas.
But it filed for Chapter 11 bankruptcy protection last month with $60,000 sales tax debts.
The store was even temporarily shut down by the Kansas Department of Revenue.
The department seized assets to pay back the sales tax debts, but Metcalf Antique Mall is now back in its owner’s hands.
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It is currently open to the public.
The owner, Andrew Rowland, told Shawnee Mission Post that the store is back in business and there was a “small tax issue that has been fixed.”
But Metcalf Antique Mall has filed for bankruptcy and had a court hearing on Friday, September 30.
In its bankruptcy petition, the business listed estimated assets of less than $50,000 and estimated liabilities between $100,000 and $500,000.
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Rowland has updated his customers and dealers with a Facebook post, writing: “I want all of you to know I am working around the clock to resolve the issue.
“I am facing many challenges as the goalpost seems to keep moving.”
Metcalf Antique Mall has only been open since September 2022.
The U.S. Sun has contacted the store owner for comment.
STORE STRUGGLES
However, many retail businesses are struggling in today’s climate of high inflation and competition from online vendors.
This week, big-box icon Target announced the closure of nine stores nationwide.
In particular, the retailer pointed the finger at crime and shoplifting affecting major cities.
"In this case, we cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance," said Target in a statement.
Unfortunately, Target is not the only big name with store closures on the books.
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Nordstrom recently closed down a flagship store after 35 years.
And so has a huge stationery retailer, with closing sales of 50 percent off.
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