TUPELO – Con Maloney isn’t sure how long his company, Cowboy Maloney’s Electric City, has had a location in Tupelo, but one thing is for sure:
“We know we’ve been there long enough that we don’t want to leave,” said Maloney, chairman of the 10-store electronics and appliance chain which was founded in 1952 in Jackson.
The Tupelo location’s lease is ending at Gloster Creek Village and the business will be out by July 15, Maloney said.
“We have not finalized anything yet … but we are looking at another location in Tupelo,” he added.
Len Pegues, the managing member of the GCV Group LLC, which owns Gloster Creek Village, said he had not officially received notification of Cowboy Maloney’s departure.
But Maloney confirmed that he is eyeing the old Rex Electronics on North Gloster, which closed in early March, as the new store site. The building is near Walmart.
“We like the market in Tupelo but we felt like we needed a more identifiable location than where we are,” he said.
Pegues said Gloster Creek Village, which once was the city’s retail center as the Tupelo Mall, remains viable as a mixed-use development. Several medical offices have moved to the site, which also is home to a Waste Management call center.
But, Pegues added, “We have about 40 tenants, and several of them are retailers and service providers.”
Maloney said Gloster Creek has been good, but his company needed a change of scenery.
“It’s a beautiful store, one of the best we have in our chain, but it comes down to the old saying of ‘location, location, location’ being most important, especially in retail.”
Maloney also said the company can capitalize on the demise of Rex and Circuit City, which closed during the Christmas holidays and were both located in the Barnes Crossing area.
Dennis Seid/NEMS Daily Journal