When, Not If, Marina Square Esprit To Close

The global economy has reached into Marina Square where a 70 percent off sign stood outside the Esprit outlet as a company' spokesman confirmed that a closure was coming, though he did not say when.

Esprit, which is owned by a holding company traded on the Hong Kong stock exchange, initially announced its intention to close its roughly 100 North American stores last September, a company spokesman based in Germany told Patch.

Recent press reports revived the closure issue after Esprit decided against filing bankruptcy in the U.S. and Canada.

The spokesman set no timetable for the local store closure, nor could he say how many people the local outlet employed.

The parent firms of other retail outlets in San Leandro have been battered by the economy but so far the city has escaped corporate closures.

but is so far keeping its open.

Sears, which owns KMart, has shut many stores .

And the company that owns Chevy's but not its location at Bay Fair Mall.

Esprit's parent continues to search for a partner to operate its U.S. stores, so a reprieve here is possible although it does not seem likely.

Last week's City Manager's report took note of the possible closure and touted the retail appeal of Marina Square should a vacancy occur and a new store be needed to fill the void.

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