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Sears in Cary to close in January

Posted October 16, 2014

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— The Sears store at Cary Towne Center will close in mid-January, a company representative said Thursday.

The closing is the latest among Sears stores around the country as the company struggles with debt and sagging sales. Bloomberg News reported in September that Sears Holdings Corp. racked up more than $6 billion in losses over four years, and Fitch Ratings said the retailer will run out of cash by 2016 without $4 billion in new capital.

“Store closures are part of a series of actions we’re taking to reduce on-going expenses, adjust our asset base and accelerate the transformation of our business model,” Howard Riefs, corporate communications director for Sears Holdings, said in a statement. “These actions will better enable us to focus our investments on serving our customers and members through integrated retail – at the store, online and in the home.”

The store’s 66 employees will receive severance if eligible and may apply for open positions at other Sears and Kmart stores, Riefs said.

The store will begin a liquidation sale Oct. 31.
 

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  • Jeff Johnson Oct 16, 2014
    user avatar

    Change isn't always a 'good thing'. Sears has been an institution. It was a favorite stop around Christmas time when I was a child. Poor locations have been hampering their success for a long while. Why they didn't setup some stores out in the bedroom communities is beyond me. From Johnston country White Oak shopping center is considerably closer than Cary Town Center and like others said, 'there's always the internet for shopping'.

  • Kenneth Gordon Hart Oct 16, 2014
    user avatar

    A low-end dinosaur whose time has come and gone. Today's Sears does not bear the slightest resemblance to the powerhouse Sears was at the turn of the 20th century or even the mediocre Sears of the 1970's. They may still have some nice tools but they are extremely overpriced compared to the same items on-line. Last time I was there, I saw a big display of "Kardashian" bed linens, so there's an example of how low Sears has sunk.

  • Scott Householder Oct 16, 2014
    user avatar

    @Horsepower-agreed!! I grew up in Cary and (lol) loitered in the mall as a teenager in the sunken food court. I'm sad to see thst Sears is leaving. Now I'll have to battle Crabtree Mall for my New Balance shoes :(

  • foodstamptrader Oct 16, 2014

    Other than Kenmore appliances I didn't even know they were still around....

  • archmaker Oct 16, 2014

    they should spin off the appliances and tools and quit trying to be an "everything" store.

  • Chad Johnson Oct 16, 2014
    user avatar

    Last time I was in that mall was about 6 months ago and it was like a ghost town compared to 10 years ago

  • btneast Oct 16, 2014

    My first houses had all Kenmore appliances and my yard equipment has been Craftsman. You do know that Sears has never manufactured the first thing....its always been made by someone else and they put Kenmore or Craftsman labels on them.....

  • A person Oct 16, 2014

    I have had nothing but problems with Sears in recent history. The most recent one was them telling me my car needed ball joints when I knew it did not. I repeated told them it needed bushings, which they said were fine. I did not allow them to touch my Honda Funny, the Honda dealer agreed with me, I had them do the bushings and have not had a problem since. I understand that ball joints are a more profitable repair for them, and then they could do the real repair and charge me for both, but I know better. Sears does nothing for me anymore except replace my old tools before they go the way of the dinosaur.

  • lec02572 Oct 16, 2014

    Sears sealed their doom when they were bought by K-Mart. Both got a tremendous cash break with the merger, but you just knew K-Mart had no clue of how to run Sears.

  • T-Man Oct 16, 2014

    And yet, they JUST opened a new Sears appliance store in Apex...

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