The store is set to close before the end of June , though an exact date has not been announced yet.
Roses, a discount store, was the fourth largest store at University Mall, right behind the space formerly occupied by Dillard’s, Harris Teeter and Southern Season.
Wilson Sawyer, chief operating officer of Variety Wholesalers, Inc. , Roses’ parent company, said the main reason for closing is the huge increase in rent demanded by University Mall.
“We thought we had a deal with them, and the deal fell through,” Sawyer said. “The original lease ran out a year ago at the end of 2012.”
Sawyer said University Mall increased the rent after the original lease ended, arguing that Roses was not profitable enough. On Feb. 1, Sawyer said the mall cancelled the lease.
He said University Mall asked for the store to shrink, which also contributed to the store’s decision to close.
“They wanted to downsize the store or cancel the lease,” Sawyer said.
Robyn Marano, vice president of marketing for Madison Marquette, the owning company of University Mall , declined to comment on whether the mall upped Roses’ rent or asking the store to downsize.