Banana Republic leaving Hamilton Place Mall

CHATTANOOGA (WDEF) – One of Hamilton Place Mall’s longest running retailers has closed up shop here.

Banana Republic posted signs encouraging customers to visit their store in Knoxville.

Gap announced last fall that they planned on closing about 10% of their Gap and Banana Republic stores.

But this closing has been in the works for awhile.

Hamilton Place officials say the company chose not to renew its lease.

And they have already lined up a new store to replace it, even though they won’t announce which one for a few weeks.

Both the Gap and Banana Republic brands have been losing sales in recent years to new “fast fashion” retailers like Forever 21 and H & M, which just opened a Hamilton Place location.

As for the mall, they keep plugging in new stores and restaurants.

Last week, they announced a new retailer Altar’d State on the upper level near Belk.

Work is underway now on that space.

And a new barbecue restaurant, Jim N Nick’s Bar-B-Q is coming to the Shoppes at Hamilton Place.