Business

Sears is closing two more Triangle stores

Bankrupt retailer Sears is closing both its stores in Durham, located at the Streets at Southpoint and Northgate Mall.

Sears Holdings announced Friday the two stores will be among 80 Sears and Kmart stores to close around the country.

The company said in its announcement that liquidation sales are expected to begin in two weeks and the stores will close in late March 2019. Auto centers at the Durham stores will close in late January.

The Durham store closings are pieces of the struggling retailer’s shrinking local footprint, which will leave the once-mighty department store giant with just one traditional store in the Triangle.

Sears has a store at Triangle Town Center in North Raleigh, an appliance outlet store near Garner and home appliance showrooms in Apex and Knightdale, according to the company’s website.

Sears shut down its location at Crabtree Valley Mall this year, as part of a round of store closings the company announced in August, The News & Observer reported.

In addition to the Sears in Durham, the company announced Friday that Kmarts in Asheville, Morganton and Morehead City are also closing.

Sears had sold 12 acres it owned at Northgate Mall to Northwood Investors, a real estate investment company, for $6.5 million, The News & Observer reported in June.

Northwood Investors bought Northgate Mall for $34.5 million from Northgate Associates this month, The N&O reported.

This story was originally published December 29, 2018 at 12:17 PM.

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Lynn Bonner
The News & Observer
Lynn Bonner has worked at The News & Observer since 1994, and has written about the state legislature and politics since 1999. Contact her at lbonner@newsobserver.com or (919) 829-4821.
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