The Liverpool One shopping center faces a tenant exodus amid a cost-of-living crisis and declining purchasing power. Many major brands have been forced to close their stores in the mall over the past year and a half.
Liverpool ONE, located in the city center, is one of the favorite places to shop and one of the most prestigious shopping venues. The mall combines more than 170 stores, cafes and restaurants, a 14-screen Odeon multiplex and other entertainment features.
Still, the mall is struggling to cope with the effects of the pandemic and the new challenges of 2022. Many stores have permanently closed, which proved unprofitable in the current environment.
Adidas, COS, and Guess, among others, closed their stores in Liverpool ONE in early 2023. Previously held the closure of Disney and Too Faced. And Liverpool store Arket, which became a tenant at the mall in the spring of 2018, will also cease operations in the near future.
Liverpool ONE is the largest open-air shopping center in the UK and the tenth-largest shopping center overall involved the redevelopment of 170,000 sq.m. of land in the city center. It is a retail-led development anchored by the department store John Lewis. The cost of construction associated with the project was £500 million ($615 million), with a total investment value of £920 million (1,13 billion).
