Discount Madness Owners Plan To Redevelop Tewksbury Property

TEWKSBURY, MA — The family that owns Discount Madness in Tewksbury said Tuesday it still has not set a closing date for the store while unveiling plans for what will be built on the Main Street property. In a news release, the Cerullo family, which has owned the retailer since it opened in 1979, said they plan to build 14 townhouses, seven apartments and five new commercial business units. The Cerullos will continue to own and operate the Discount Madness location in Pelham, NH.

"The Cerullo family is not selling the property and plans to develop the new project themselves," the family said. The Cerullos said they will open a business in one of the commercial spaces, and could occupy all five until tenants are found.

In May, an assistant manager attributed the impending closure to slow sales in an interview with Tewksbury Patch. Bob Racette said the store has not set an exact closing date, but expected the store to wind down operations in June or July.

"Business has been real slow," Racette said. "Outside of one month of the year — this month [May] — things are just really slow."