Musicland-Sam Goody has pulled out of negotiations to bring an outlet to Centennial Mall, the facility's manager said Tuesday.
Word arrived shortly after Christmas.
"They have had a shake-up at the corporate level and my understanding was they dropped plans for new stores in 2003," said Vicki Hall, a leasing agent who manages the store with Colorado & Santa Fe Real Estate.
While the contact didn't go into details, Hall said the individual indicated that revenue projections for the retailer looked to be short, forcing plans for expansion nationally to be scaled back.
"This has happened before, but we'll keep trying," she said. "It really has not been the best year for retailers."
Hall declined comment on what other prospective tenants might be in talks with the mall.
Centennial Mall wanted to sign the national home entertainment/electronics chain to a long-term lease.
Hall had indicated she was pursuing a commitment of five to 10 years to Craig, but the company had not agreed to a lease beyond three years.
Musicland-Sam Goody also wanted the mall to cover between $80,000 to $90,000 in improvement to a 4,500-square-foot unit on the west end of the mall. The unit is now home to a furniture store, which would have seen its space cut in half if Musicland-Sam Goody had been signed to a deal.
Connie Molby, a spokesperson with Musicland-Sam Goody, said she couldn't confirm or deny that talks with Craig have broken off.
"We negotiate with different stores all the time and things happen," Molby said.
Hall said the mall unsuccessfully pursued the store five years ago. That agreement also fell apart around the New Year, she said.
"We'll remain in contact with them to try and make something like this happen in the future," she said. "It's one of those things you play by ear -- we're always searching."
Musicland Group is a wholly owned subsidiary of Best Buy Co. Inc. There are 1,300 stores nationally operating under the names Sam Goody, Suncoast Motion Picture and Media Play. Thirty-one stores are located in Colorado.
Paul Shockley can be reached at 824-7031 or at firstname.lastname@example.org.