NORTH CHARLESTON, S.C. (WCBD) — In the beginning of 2017, Sears Holdings informed employees at several Sears stores that their locations will be closing this spring. We now know that the Sears at Northwoods Mall in North Charleston will close in mid-June, according to a company spokesman.
The store will start its liquidation sales on April 14.
According to Howard Riefs with Sears Holdings:
We recently reached agreement on a transaction with Seritage Growth Properties relating to the Sears store at Northwoods Mall in North Charleston, South Carolina that they own and we lease back from them. Seritage previously had the rights to recapture 50 percent of the Sears store and related auto center. This store will now be designated as a 100% recapture property with Seritage having the contractual right to terminate our store lease in its entirety in exchange for a specified termination fee. Seritage has notified us that they have exercised this recapture right.
Eligible employees will receive a severance package and have the opportunity to apply for open positions at area Sears or Kmart stores.
The number of affected associates is not available.