In June 1998, a large
sinkhole appeared in the children's play area, in the central pedestrian traffic corridor of the mall. This hole measured across and deep. While efforts to stabilize and fix this sinkhole were underway, a second sinkhole developed in the Sears store. These were stabilized and all areas of the mall were reopened. The publication of
American Society of Civil Engineers in October 1999 contained a study detailing how these sinkholes were fixed. In 2000,
Belk had proposed to relocate to the mall from Northgate Shopping Center in Winter Haven, but instead built a store on the site of the former Winter Haven Mall after it was torn down. In April 2009, the company which then owned Eagle Ridge Mall filed for
chapter 11 bankruptcy.
General Growth Properties, Inc., the mall's owner, owned 358 malls and shopping centers in forty-four states. This at the time was said to be the largest real estate bankruptcy in
United States history. It was sold to Madison Marquette, and again in 2013 to Tabani Group. Sears announced closure of the Eagle Ridge Mall store in late 2016. In January 2018, two signal flares were ignited in the mall. The flares caused a large amount of smoke but no injuries were reported. On June 4, 2020,
JCPenney announced that it would be closing by around October 2020 as part of a plan to close 154 stores nationwide. After JCPenney closed, Dillard's became the one and only anchor store left. ==References==