Other shopping centers and big box retailers opened near the new mall.This took away most of the business from the Mall of Memphis and the commercial area surrounding it.

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The Mall of Memphis is the largest enclosed shopping mall to cease operations in the United States.

The mall underwent an extensive renovation shortly before it closed, in an unsuccessful attempt to attract new business.

Although new tenants opened, the full renovation was never completed, which would have included a face lift and a name change to Memphis Park Galleria.

These events led to the Mall of Memphis developing a reputation for being unsafe and being nicknamed the "Mall of Murder".

In the 1990s, white flight took place in the residential neighborhoods closest to the Mall of Memphis.

Many of the mall's upscale clientele moved east to Germantown, Collierville, Bartlett and Cordova, making trips to and from the mall longer and less convenient.A new mall, the Wolfchase Galleria, opened in 1997 between Bartlett and Cordova. The mall opened October 7, 1981, was closed December 24, 2003, and was demolished in 2004.Among other things, the mall was home to the Ice Chalet, Memphis's only public ice rink.The Mall of Memphis and the commercial area that developed around it prospered throughout the 1980s and into the 1990s.However, in the late 1980s and early 1990s, several deadly shootings and a rash of robberies occurred on or near the mall's parking lots.