The buzz about how deeply the national recession is cutting into Jackson Hole’s economy has created rumors about a slew of downtown retail store closures.

For the record, Jack Dennis is NOT closing.

Eddie Bauer is NOT closing.

Earth and Vine MIGHT close, the News and Guide reported earlier this week.

So, what about Chico’s?

No one seems to know, including those that work there.

The manager of Chico’s, the women’s clothing store just off the Town Square, said she can’t get official confirmation if her store will be closing or not. With the store’s lease expiring on March 31 and rumors flying around town that the store is shutting its doors,  Lydia Leitch, the store manager, is in a tough position with her employees - three full time and five part-timers, she said.

“It’s not great for moral around here,” she said. “It’s a little frustrating.”

Chico’s is a national chain, which, like other retail chains across the county, has been struggling with sharp declines in sales during the recession. Last month, Chico’s parent company, Chico’s FAS Inc., reported that comparable store sales were down 10.9 percent for the four-week period ending Jan. 31, 2009  compared with the same period in the previous year.

If Chico’s decides to close its Jackson Hole store, it would be following a trend that started late last year, when retailers reported the sharpest drop in sales in three decades. Many retail chains, including electronics retailer Circuit City, since have closed completely, while some, like Macy’s department store, have closed individual stores.

Chico’s has been in Jackson for 15 years, Leitch said.  The company had until Dec. 31, 2008 to say if it would renew its lease on the 1,600-foot retail space, she said. That lease ends on March 31. The company missed that deadline, which doesn’t mean it can’t still renew the contract. But it does mean that the holders of the property are advertising the space for rent starting April 1.

Sotheby’s International has placed an ad for the space in the Jackson Hole Daily News. Tom Evans confirmed that the space for rent was in fact the spot Chico’s currently rents. He also said there are interested parties out there looking at the space.

Still, Leitch said she knows very little about the fate of her store and her employee’s jobs.

“I wish I could tell you more,” she said. “You’re not the only one who’s asking the same question.”

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