Court filings show Illinois Star Centre Mall losing tens of thou - WSIL-TV 3 Southern Illinois

Court filings show Illinois Star Centre Mall losing tens of thousands of dollars

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MARION, Ill. -- The Illinois Star Centre Mall lost nearly $85,000 over the first seven months of 2018, according to documents filed in a federal bankruptcy case by the mall's owners. 

Those records show the mall has been in the red every month this year except April, when it posted a profit of $124 dollars. 

Comparatively, over the final seven months of last year, the mall made almost $120,000, including more than $35,000 in June and November, and nearly $75,000 in August. 

The documents also show that in August 2017, the Illinois Star Centre had more than $150,000 in cash on hand, but by July this year, that amount had fallen to less than $30,000.

Earlier this month owners sent a letter to stores in the mall saying it would be closing within the next 30 days. The mall also asked for a federal judge to void the existing leases, saying it is no longer economically feasible to run the mall.

Store owners say they plan to fight back against the lease cancellations and a hearing has been scheduled for next month in East St. Louis. 

The mall is also in an ongoing lawsuit against the City of Marion, claiming the city improperly commingled funds from accounts related to a TIF district around the mall, and that the city is refusing to release financial records it needs to sell the property. 

Last week the City of Marion responded to the lawsuit refuting the claims, but said it would agree to an accounting of city financial documents related to the mall. 

A hearing in that case has been scheduled for early next year. 

Marion Mayor Anthony Rinella says he's been in contact with several stores in the mall about moving to other locations in Marion. 

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