Another Chicago-centric retail story from over the weekend. Fashion designer/general media personality, Isaac Mizrahi, was to have his own storefront open up in the city, in the swanky Gold Coast area near downtown, a second location in addition to his shop in Manhattan. According to the Chicago Tribune, Mizrahi’s company leased out the space starting back in the fall, with a planned opening on April 1st. However, as that date has long since come and gone, with no store in sight, the space’s future was in question. Now the building’s owner, Rush Walton, has sued the company, asking for close to $700,000 for defaulting on its lease. Here’s a bit more from the paper’s report on the suit:
“Shortly after” Mizrahi took possession of the space, the designer’s firm notified Rush Walton “that it would never open the planned Isaac Mizrahi store and would not make the required rent payments,” the lawsuit said.
Rush Walton began proceedings March 1 to take back the property, winning a court order to do so April 11 and issuing Mizrahi’s firm a formal notice of default May 6.