Wells Fargo Automotive Auction Mall in Fargo, N.D., is closing its doors this month, and the mall’s auto auction sales will end the month of April, according to a news release from the mall.
The mall’s owner, Wells Fargo Bank, said it was a difficult decision.
“We are disappointed that the store has been unable to sustain its current sales levels,” Wells Fargo spokeswoman Kristi Stegman said.
Wells Fargo, which operates more than 2,500 Wells Fargo auto auction stores across the country, is a subsidiary of Bank of America Corp. The bank said it has invested $1.3 billion in the store since its opening in January, with $500 million invested in the development of the retail center and other development projects.
Wells’ announcement came as a surprise to the mall owners and employees.
“I didn’t think it was coming this close,” said Jim Lomax, the manager of a local sports goods store at the mall and the owner of the local auto auction store.
Wells announced plans to shutter its auto auction shop in February, but said it would open another one in May, at a location at the nearby mall.
Wells said in a statement that the mall would be “relocated to the east side of Fargo to create a new location.”
The news of the mall closing came on the heels of a news story in the Fargo Herald-Tribune that detailed problems at the store.
The newspaper reported that workers had to wait more than two hours to use the store’s elevators, and had to go into the building with their shoes on.
The store has had to temporarily close on two occasions because of problems with the elevator and escalators, the newspaper reported.
Wells has not announced a timeline for when the store will reopen, but Stegmann said the company would continue to “support the mall in any way possible.”
The mall was one of three retail sites Wells Fargo operates in the state.
The other two were at the University of North Dakota and the University at Buffalo.