Macy Relents on Closing of Downtown Bullock’s

Reversing a decision announced in early March, R.H. Macy & Co. on Wednesday said that it has canceled plans to close its Bullock’s store at Citicorp Plaza, a downtown Los Angeles fixture that was to be shut down later this month.

The Bullock’s store--part of the shopping complex bounded by 7th and Figueroa streets, the Harbor Freeway and 8th Street--was among the eight California stores the New York-based Macy intended to close under its plan to improve profit as it reorganizes under Chapter 11 bankruptcy proceedings.

However, Macy decided to keep the store open after considering appeals from Mayor Tom Bradley, Rebuild L.A. and Prudential Realty Group, which owns Citicorp Plaza, said Laura Melillo, a spokeswoman for the retailer. The store employs 130 and occupies nearly a third of the plaza.

Melillo said Macy reversed its decision partly because Citicorp Plaza managers offered an “economic support package.” Macy executives would not provide further details.

Macy was also swayed by the prospects of greater shopper traffic from recently developed subway lines near the shopping center, said Rolf Kleinhans, a Prudential vice president who oversees operations at the shopping center.