PINE BLUFF, Ark. — The Pines Mall in Pine Bluff faces an uncertain future. Many businesses have left and questions over what’s next have had people worried. Now, the mall is in foreclosure following a lawsuit from an electric company it worked with but didn’t pay.
The Pines Mall is up for auction at noon April 30 inside the Jefferson County Courthouse Corridor. The purchaser will be required to furnish a bond with approved security for the purchase price or to post a 10% cash bond which will be forfeited in the event of failure to pay within three months.
"This was news to us. We even asked the owner of the mall if the mall was closing or up for foreclosure and we was given the answer of no, so we're just going on with business every day," said Larry Kirklin, owner of LKC Luxury located in The Pines Mall.
Tuesday, documents were filed for the mall's foreclosure following a lawsuit from Carrington Electric Company against the mall's owners James, John and Judy Vu, alleging they didn't pay for $18,759.62 worth of work.
Judy Vu previously told THV11 the mall withheld payment because the contracted work was not completed properly.
In February, a Jefferson County Judge ruled in favor of Carrington Electric and ordered the mall's owners pay for the work within 10 days.
"I’ve gotten a lot of phone calls about being an investor and there are a lot of people interested in purchasing the mall," said Wil Jenkins who owns several buildings downtown and believes new owners could be a good thing for the city. “We’ve got this $350 million casino adjacent to it, across the street from it. I would love and a lot of other people I’ve talked to would love to see it turned into an outlet mall."
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Kirklin hopes his shop will still have a home.
“If there’s possibility of a new owner coming in, we don’t know what kind of contracts they’re going to want out of us," Kirklin said. “We’re rooted and grounded in Pine Bluff and we would love to stay here in the Pines Mall. We’ve invested in this community."
Jenkins believes this could pave the way for businesses to move downtown
"I’ve had a few phone calls in regards to leasing space," Jenkins said.