Turn 7, the discount retail store from the Forman Mills founder, is set to close in Moorestown Mall

Turn 7, the discount retail store from Forman Mills founder Rick Forman, is closing at the Moorestown Mall.

The business, which sells discounted items including from companies’ overstock supply, bankruptcies, closeouts sales, and online returns, opened its Moorestown location in 2021 at the site of the former Lord & Taylor. The store will close by Friday, June 21, as the business’ lease expires. Forman is looking to sell off $8 million worth of merchandise through a liquidation sale with items up to 90% off, according to a company statement.

While the store in the mall is closing, the business could soon expand. Forman described the Moorestown Mall location as a proof of concept and is now aiming to open five stores within 18 months, he said Friday in an interview. He is open to either signing a lease or purchasing locations for the brand.

“We are thrilled by the overwhelming response to our Turn 7 concept in Moorestown,” Forman, the CEO of Turn 7, said in a statement. “The positive feedback and increased foot traffic have demonstrated the demand for extreme off-price retail in this area. Especially during times where inflation is high, Turn 7 is a place where your dollar can go far for all of your family needs.”

The business was inspired by liquidator chains in the South, Forman told The Inquirer in 2022, and was envisioned for individual shoppers looking for a deal as well others who purchase items to resell them. The business takes its name from Forman’s goal to sell off items within seven days.

The store at the Moorestown Mall has had an annual revenue between $7 million and $10 million since opening, according to the Philadelphia Business Journal.

“Now I’m ready to really put a management team together. This was almost like practice,” Forman said Friday.

Forman said he’s scouting locations for Turn 7 including sites in Moorestown, Maple Shade, Cherry Hill, Deptford, and near South Philly. He’s open to bringing the concept to sites beyond shopping centers including to a warehouse. The Turn 7 store at Philadelphia Mills has another year left on the lease, he said.

“I want to stay in the Delaware Valley where we can cluster a few stores ... we found that we can attract from like 15 to 20 miles,” Forman said.

The site that Turn 7 is vacating in the Moorestown Mall will house an entertainment center called Parky’s. It will include ax-throwing and go-karting across two-floors. Efforts have been underway for years to transform the mall area including with a Cooper University Health Care medical building and an apartment complex.