Roses located in University Mall will close by the end of June after more than forty years in the space, a company leader confirms.
The discount retailer, which sells items such as clothing, accessories and home furnishings, opened its UMall location in 1973.
Wilson Sawyer, President and Chief Operating Officer of Roses’ parent cooperation, Variety Wholesalers, Inc. of Henderson, N.C., said several circumstances prompted the decision to close the store.
Sawyer said there was a “big rent increase” for the space Roses occupied, which is located off S. Estes Drive across from the Harris-Teeter. UMall operators also decided to decrease the size of the store. As the lease with the shopping center ran out about a year ago, he said the choice to close made sense.
“Our store was just going to be downsized to a smaller store than we could afford to operate at the rent level that we were expected to pay,” Sawyer said.
This development adds to the list of changes UMall has experienced recently. It was announced last year that Silverspot Cinema would open in May 2015, replacing Dillard’s. Construction on the new luxury, 13 screen movie theater is set to begin this month.
As part of a greater redevelopment plan for the shopping center, new leases signed in 2013 include William Travis Fine Jewelers, Fine Feathers, Peacock Alley, TrySports and Kidzu Children’s Museum. Plaza Azteca, a Mexican restaurant, will join the dining options in 2014.
The UMall Roses employs about 40 people. Sawyer said they are working to find the employees positions at nearby Roses locations in Durham and Raleigh.
Sawyer added that Variety Wholesalers, Inc. is interested in opening another location in Chapel Hill.
“Well, we are always looking, but we do not have anything specifically in mind. But, we are always looking,” Sawyer said.
Variety Wholesalers, Inc. is a family owned business that has been in operation since 1922.
The corporation operates approximately 400 stores in 16 States, including Maxway, Value Mart, Super Saver, Super 10, Bill’s Dollar Store, and Super Dollar Stores.
** Art Pope, the state budget director, owns Variety Wholesalers, Inc. Pope has been criticized for “biased” financing of Republican initiatives through profits from the corporation.