end is nigh
Discount sales underway with prices cut by 75% as department store to close – shoppers only have weeks to take advantage
The pending closure has left shoppers fearing at what might be around the corner
CHIEFS of a department store chain have confirmed that one of its stores is to close in a matter of weeks.
Discount sales are already underway at the Belk store located at a shopping mall in Kennesaw, Georgia – located around 25 miles from Atlanta.
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The store, located in the Town Center at Cobb mall, will close on February 18 and chiefs are rushing to clear the last remaining stock.
The prices of regular-priced items have been cut by 65%, according to the NBC affiliate WXIA-TV.
But, the prices of clearance items have been slashed by 75%.
It means shoppers only have a couple of weeks to take advantage of the discounts.
Officials revealed the outlet will shut after a “careful review.”
A spokesperson confirmed the company will work with staffers set to be impacted, per the CBS affiliate WANF-TV.
The U.S. Sun has approached Belk for comment.
News of the closure has left fans in mourning.
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“I am so sorry to see it closed,” one lamented.
“Belk is the *only* mall-sized department store I shop at (I refuse to even set foot in Macy's).”
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Shoppers have told how they “hate” to see the Belk store is closing.
“I hate to hear this. I shop there often,” another said.
Meanwhile, others are fearing the prospect of other stores closing their doors.
The Town Center at Cobb mall is home to major chains including Macy’s and JCPenney.
US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
Both chains are in the process of closing down outlets.
The store closure will come just years after bosses filed for bankruptcy.
Execs filed for bankruptcy on February 23, 2021, but exited the process a day later.
Chiefs scrambled to cut around $450 million of the company’s debt.
And, the company saw an influx of cash – bringing in around $225 million of new capital.
The economic context facing Belk was challenging at the time of the bankruptcy filing.
Between March and December 2020, sales had plummeted by 32% compared to the previous year, per Retail Dive.
William Langley, the CFO, explained filing for bankruptcy would help secure the future of stores.
He warned at the time the company could’ve faced liquidation.
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In December 2024, it was reported that a Belk store located in a Virginia shopping mall was closing.
It is set to be replaced by a Hobby Lobby outlet.