Sears at Crabtree Valley is closing in November, company says
Sears Holdings announced this week that they will close 46 more stores across the country, including the Crabtree Valley Mall location.
"As part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus on our best stores, this week the company informed associates at 46 unprofitable stores that we will be closing these stores in 2018," the company said in a release.
View a list of all the closures
In January 2014, the Sears store at Cary Towne Center closed. According to the release, the Crabtree Valley Sears will close in November.
Crabtree Valley Mall released a statement on the closure, saying:
We proactively negotiated the purchase of this property in April, 2018 to be prepared in the event of an announcement such as this one. Crabtree Valley Mall will redevelop this area to create an exciting new environment benefiting consumers throughout the Triangle and beyond."
Sears said overall revenue fell 31 percent in the three months ending May 5. On May 5, Sears was operating 894 stores.
