Sears will close its store at Moorestown Mall in Moorestown NJ, the troubled retailer has announced.
"The liquidation sale will begin this week and the store is planned to close in mid-April," company spokesman Larry Costello said in a statement Thursday.
He described the decision to leave Moorestown as "difficult but necessary," but offered no additional details.
The departure will mark the second loss of a major tenant this year at the Route 38 shopping center.
A Lord & Taylor store closed after the recent holiday season as part of widespread cutbacks for that chain.
A representative of PREIT, the mall's Philadelphia-based owner, expressed regret at Sears' announcement.
"Sears has been a long-standing tenant of Moorestown Mall, and we’re disappointed to see it close its doors," said Heather Crowell, an executive vice president.
PREIT last year received planning board approval to add stores at two sites in the Moorestown center’s parking lot.
The buildings could hold as many as 11 businesses in spaces ranging from about 2,000 to 12,000 square feet, according to PREIT.
A 25,800-square-foot building is planned for an area near the jughandle at 38 and Lenola Road. An 8,000-square-foot building is proposed for the lot between Lenola and the former Macy’s.
The mall also is expected to open a product-fulfillment center later this year.
The 30,000-square-foot center, to occupy part of the former Macy's, would supply a storefront shared by online brands in PREIT's Fashion District in Philadelphia.
PREIT bought the Macy’s site for $9 million in 2017, saying it wanted to find new uses for the department store.
Since that time, it’s leased about 73,000 square feet in the former store to Homesense,Sierra, Five Below and Michaels, which is expected to open an arts-and-crafts store there this month.