Sears store in Hamilton Mall to close


The Sears at Glenbrook Square was included in a list of 46 stores slated for closure released this week.

The stores to be shuttered includes 33 Sears and 13 Kmart stores, with several affiliated Sears Auto locations impacted.

The Jackson Crossing is among those on the list.

Liquidation sales are set to begin as early as August 30, according to Sears.

Sears will shutter even more stores as it moves to streamline its business. The Crabtree Valley Mall store is the only location in Raleigh targeted for closure at this time, though the company said it continues to evaluate all of its locations.

The University Mall location, and numerous other 33 Sears and 13 Kmart locations on the latest list, will shut their doors in November. Company officials said the stores will be closed by November.

"In the last 10 years their value has been in Sears real estate, not retail operations", said Green, who is a partner at Hoffman Stratedgy Group. Excluding Sears Canada, the retailer operated 3,530 stores at the beginning of 2009, according to regulatory filings. The company also sold its Craftsman tool brand to Stanley Black & Decker Inc. and partnered with Amazon to sell Kenmore and DieHard products online. So far in 2018, the stock has declined about 67 percent.

In June, Sears consolidated three large loans that were due this year and said it now has until July 20, 2020 to pay back the $593 million in debt.



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