The Sears store at Westfield Topanga will close in May – the second major closing of an anchor store at a Westfield Group mall in the West Valley this month.
Sears Holding said on Wednesday it would close the 160,000-square-foot store on Topanga Canyon Boulevard as part of its ongoing efforts to return to financial health by closing brick-and-mortar locations and focusing more on online sales.
A liquidation sale will begin Feb. 13 and some of the store’s 122 employees will be eligible to receive severance pay and have the opportunity to apply for open positions at other Sears Holding stores in the area, including K-Marts, also owned by the suburban Chicago company.
“Store closures are part of a series of actions we’re taking to reduce on-going expenses, adjust our asset base and accelerate the transformation of our business model,” said Howard Riefs, Sears corporate communications director, in an emailed statement.
The company has reported losses for 10 straight quarters and lost $1.5 billion in the 39 weeks ended Nov. 1. It had previously announced plans to close 235 stores, mostly K-Marts, in 2014. On Tuesday, it was reported that it cut 100 jobs at its Hoffman Estates headquarters and another 15 administrative support jobs elsewhere.
The Sears store is just one of several anchors at the Westfield Topanga, 6600 Topanga Canyon Blvd. The other large stores at the 1.58 million-square-foot mall include a Macy’s, Nordstrom, Nieman Marcus and Target.
The closing was announced just a few weeks after the closure of the two main anchors at Westfield Promenade, just down the street at 6100 Topanga Canyon Blvd. A Macy’s department store and a Macy’s furniture gallery, which total about 270,000 square feet, will close this spring. Plans for future tenants have not been released.
Westfield Group, an Australian mall developer with its U.S. headquarters in Century City, said the closing of Sears will allow the company to evaluate new prospects for the shopping mall.
“Although we will be sorry to see Sears go, past performance demonstrates Westfield’s track record in recovering and reorienting former department store real estate, introducing new elements, energy and choices for our customers,’ said Katy Dickey, a Westfield spokeswoman. “We view this departure as an opportunity to do so at Topanga.”
The closures come as Westfield Group is building its Village at Topanga, a $350 million development that will connect the two Topanga Canyon Boulevard malls with 550,000 square feet of shops, restaurants and outdoor amenities, such as fire pits, hanging plants and lounge areas.