INDEPENDENCE, Mo. -- A local mall could soon shut down.
The owner of Independence Center, Simon Group out of Indianapolis, faces default on a $200 million loan so the mall is expected to be sold in a foreclosure sale Friday, Feb. 16.
According to Trepp, a financial research firm, Independence Center has been struggling to make a profit due to competition from other retailers in the area.
If a new owner does decide to tear down the mall, businesses will slowly leave over the next year or two.
Over the past 15 years – the Bannister Mall, Metcalf South, Indian Springs, Metro North, Great Mall of the Great Plains have all shut down.
If Independence Center shuts down, that would leave the Oak Park Mall in Overland Park as the last giant enclosed mall in town.
FOX4 reached out to Simon Group for comment but have not heard back from them. Their website no longer lists the Independence Center as one of their properties.