Crabtree Sears store closing, liquidation sale could begin next week

Steve Daniels Image
Thursday, August 23, 2018

RALEIGH, NC (WTVD) -- Sears is closing its department store in Raleigh's Crabtree Valley Mall as part of an ongoing nationwide effort to streamline operations.

Sears Holdings said the Raleigh store, which has been part of the Crabtree-area landscape since 1972, is unprofitable. It is one of 46 Sears and Kmart stores that will close nationwide in November and the only North Carolina closure. The Crabtree Sears Auto Center will close in September.

The company says it notified employees about the closing this week.

"We thank associates affected by these store closures for their many contributions to our company," said a Sears Holdings spokesperson in a statement to ABC11. "Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores."

Liquidation sales will begin as early as August 30.

Earlier this year, Sears sold the 168,000-square-foot Crabtree anchor store for nearly $20 million to CVM Holdings, the mall owner, as part of leaseback agreement, according to our newsgathering partners at the News & Observer.

Sears Holdings also says other stores may close.

"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," said a company spokesperson.