Like many who set out their stalls in Afflecks in the late 1980s early 1990s, Mallon, the man behind trendy fashion labels Ringspun and Elvis Jesus, reflects fondly on the time when it was synonymous with all that was cool about Manchester.
"Those were the halcyon days. That was the time when Manchester was at its most influential thanks to the Hacienda and the music scene. You had a huge influx of people visiting from all over the country because they'd heard Manchester was the place to be and Afflecks was a symbol of that moment."
But now as he looks across at the eclectic shopping emporium from his offices in Oldham Street he sees something faded, ramshackle, increasingly irrelevant.
"The Afflecks building looks tired because the format has had its day and the building is shabby.
"It was a launchpad for me but to be honest I think the furore surrounding its potential closure was first and foremost about nostalgia and sentimentality.
"I turned 40 last year and it's people like me who felt strongly about it because we have an affinity with that era. But who still shops there?"
His view is in stark contrast to high profile Afflecks champions like Red or Dead founder, Wayne Hemingway, who insists it remains a much-needed outlet for fledgling entrepreneurs.
It's not an argument that holds any truck with Mallon and his friend and colleague, Craig Ince, who also cut his teeth selling clothes in Afflecks. The 39-year-old is now managing director of city centre private members' club The Circle - that Mallon owns.
Both believe the 21st Century way forward for independent retailers is to smarten up their act and get involved in ventures like Mallon's new offering, The General Store, which opened in the revamped Victorian Barton Arcade, Deansgate, in December.
They believe this outlet for individual independent labels is going to shake up the "tired" non-mainstream shopping scene.
Select the link on the right to see a gallery of Afflecks people
"It's clear that Afflecks is no longer a viable business proposition. The customers have voted with their feet," says Ince.
Mallon adds: "Twenty years ago you needed somewhere like Afflecks for students to buy their posters and quirky accessories but now you can get all that on the internet. The place has lost its caché.
"That said, I still believe there is a need for a vehicle for independent shops as a major bugbear of mine is the increasingly faceless look of the high streeet. I don't hate the multiples, they've done a good job, whereas the independent scene got tired and lazy. It needed shaking up.
"Consumers still want clothes that are affordable and different."
Afflecks was saved from closure after landlord Bruntwood took over from Elaine Walsh, who founded Afflecks with her late husband James 27 years ago. This was the first time the commercial landlord had bought a property from one of its customers. But while Ince and Mallon think it would have been better to be cruel to be kind and just let Afflecks fade into the memory banks, other former stall-holders disagree.
Manchester-born fashion designer Vicky Martin celebrates 21 years in business this year. Her clothes are now stocked in upmarket department stores like Selfridges as well as standalone boutiques including her base in The Triangle - a far cry from her Afflecks roots.
"Afflecks gave me the confidence to build my business and branch out as a designer," she says. "It was all about finding your feet and Afflecks did that for me."
But she doesn't think sentimentality has clouded her judgement.
"I still think it's relevant today. I don't know where else my teenage children would go to shop and hang out with their friends if it wasn't there. We still need it today because it is different."
Tom Bloxham, founder of Urban Splash, ran a postcards stall in Afflecks before building a property development empire that has resulted in him being known as a pioneer of the city's urban regneration. He leases the 20,000 sq ft Northern Quarter Arcade, adjacent to Afflecks.
"For me Afflecks was great. I rented a stall from James and Elaine Walsh for £20 a week - I needed to earn the money to supplement the rather expensive beer habit I'd developed as a student at Manchester University.
"It was a really good atmopshere at the time. I was very ambitious though and thought I'd be a businessman.
"Afflecks helped me get off the ground. The thing about Afflecks was that it was good for customers who wanted to buy stuff that wasn't available on the high street but it was also good for traders with an entrepreneurial spirit and we really benefited from the buzz of creativity that was around at the time.
"I still think the future is bright for Afflecks. There are issues surrounding the fabric of the building but I expect it to thrive over the next 20 years."
Sean Berry, 42-year-old owner of Panic Posters manages the Northern Quarter Arcade on Bloxham's behalf.
On the day of our visit he was doing a brisk trade selling posters as well as badges and T-shirts. And some things never change, whatever the fashion. The face of that poster boy of student rebellion, Che Guevara, is everywhere.
Select the link on the right to see a gallery of Afflecks people.
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Bitter and twisted cynic that I am, sounds as though Mr Mallon wanted Afflecks to shut to increase business at his own new venture ????? Not true I'm sure.
Afflecks is one of the most interesting shopping experiences in Manchester. Keep the diversity and creativity going!
What an incredibly arrogant thing for Mallon to say. Just because the store that gave him floor space is now not worthy of his time, does that mean it is irrelevant? To all the artists and shopkeepers who hold stores there, or to all the kid who cram in to the corridors every weekend?
Afflecks is great and long may it continue. We need markets and independent retailers. They are what makes a place different and interesting. They don't occur naturally, they have to be created, nurtured and protected. Manchester needs to create a market square, like in Piccadilly that nobody likes at the moment. People love the buzz of a market as the Christmas markets have shown. Chain stores and supermarkets are dreadful and I feel sorry for anyone who only sees the inside of these.
i think you should keep afflecks open because obviously who ever wrote this doesnt shop there! so many people come down to manchester to shop here its the highlight of the day for some, so keep it open! its different and unique and we love it!
If it's popular enough for Mallon to use it for free publicity for his little-known venture,then surely it has more public interest and greater shopper activity? Nowt but another example of an arrogant businessperson piggybacking off Elaine Walsh's hard work to suit their own ends,showing another depressing vacuum of integrity.
How can that bloke say people are nostalgic about something that still exists? Just because he's lost touch, it doesn't mean that the place is irrelevant. I am sure it will survive fine without him.