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Thursday, April 18, 2013
By the end of summer, the New River Valley Mall in Christiansburg will be without one of its oldest tenants.
Sears, which opened with the mall in 1988, will close in mid-July, Sears spokesman Howard Riefs wrote in an email.
The store's lease was not renewed as part of a series of actions the company is taking to reduce expenses, adjust its asset base and accelerate the transformation of the company's business model, according to Riefs.
The location occupies 57,200 square feet and currently employees 59 people, who Riefs said will have an opportunity to apply for positions at other Kmart or Sears stores.
The store's liquidation sale will begin May 3, he said.
Mall general manager Mike Poldiak said the mall is working with a number of parties interested in the space, and he believes this is an opportunity to improve the tenant mix in the mall.
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