Hudson Valley Mall loses yet another retailer as GameStop closes - Hudson Valley One
Summary
The Town of Ulster and the Kingston City School District agreed to lower the mall’s assessment by approximately 90%, reducing it from $66 million to align more closely with the purchase price. Though they did attract an emergency health care facility and a handful of new tenants, retailers otherwise left the mall in droves. Known for its selection of new and pre-owned video games, consoles, and accessories, GameStop has seen sales drop precipitiously over the years. As directly distributed digital gaming continues to dominate the industry, the company is shuttering an estimated 150 stores in this wave of closures. The company’s struggles became a high-profile story in 2020 when a surge in stock value — driven by retail investors and viral social media — catapulted its share price to $500.