Published: Fri, August 24, 2018
Markets | By Otis Pena

Sears is closing its Crabtree Valley Mall store

Sears is closing its Crabtree Valley Mall store

The Clovis Kmart is closing - and Sears stores in the Valley may be shrinking.

Sears Holding announced this week it is closing another 46 locations as it continues to evaluate the future of the company.

Two other Florida Sears locations will close - one in Doral/Miami and one in Naples.

The Sears store has been an anchor at Vancouver Mall since the mall opened in August 1977. An auto center at the Bloomington store will close this month. Sears operated 894 stores in total as of May 5.

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As previously reported by FOX Business, Sears added 43 stores to its list in July, which at that point had increased to 265.

Liquidation sales at 33 Sears stores and 13 Kmart's are expected to begin next week, according to Sears.

The company has already closed more than 100 stores so far this year. The company declined to say how long that lease would be at the time, however it did note it should have no impact on its operations.

The Hoffman Estates, Illinois-based retailer's shares have lost value in each of the last four years. According to Fast Company, large malls have seen an expanding vacancy rate by 8.3% in the first quarter of 2018, which is at its "highest since the fourth quarter of 2012".

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