Home-furnishings retailer Z Gallerie has shuttered 25 of its 77 stores nationwide, including Denver’s Larimer Square location and the store in Boulder’s Twenty Ninth Street development.
The retailer’s remaining store in Colorado continues to operate in Cherry Creek Shopping Center.
The Gardena, Calif.-based company made the decision to close underperforming stores based on “deteriorating economic conditions.” It is also consolidating its distribution network to reduce costs and increase operating efficiency, said company spokesman Dan Hilley.
In Larimer Square, Friday’s closure came earlier than expected as Larimer Square Management had planned for Z Gallerie to exit this November when its 12,000-square-foot lease expires.
The vacancy is seen as an opportunity by Larimer Square Management, which has worked to shift from national chains to local, independently owned merchants and restaurants.
“While the closure came sooner than planned, we have been carefully pursuing and reviewing a variety of retail and restaurant options for the Graham Building over the past 18 months,” said Joe Vostrejs, chief operating officer for Larimer Associates. “It is such a significant and defining space that we prefer to wait in order to find the tenant that exactly meets our criteria.”
Boulder’s 9,700-square-foot store closed Saturday.
“We are definitely marketing the space,” said Twenty Ninth Street spokeswoman Heather Drake. “We don’t have anything definite right now and hope to have something in there shortly.”
Elizabeth Aguilera: 303-954-1372 or eaguilera@denverpost.com
