Belk opening more outlet stores in NC, including near Charlotte and Raleigh

Belk is opening two more outlet stores in North Carolina, including one near Charlotte.

The iconic Charlotte-based department store will open Belk Outlet stores this spring at Eastridge Mall in Gastonia and Triangle Town Center Mall in Raleigh, the company said Friday. Last year, Belk opened its first outlet store in North Carolina at Northlake Mall in north Charlotte.

The Charlotte Observer reported last week the company’s job listings online showed Gastonia’s Eastridge Mall as an outlet store.

Belk Outlet sells clearance items from larger Belk stores and high-end brands that were previously unavailable at store locations. Belk opened its first outlet in January 2023 in Greeneville, Tennessee. There are now 16 outlets.

Similar to the Northlake Mall two-floor concept, the second level will be a traditional Belk store while the first floor is converted into an outlet at the Gastonia and Raleigh stores.

“This will give even more of our North Carolina customers the ability to shop a large range of designer and high-end national brands at a lower cost,” Belk CEO Don Hendricks said in a statement.

Belk did not immediately respond to requests for comment Friday.

Other moves at Belk

Last week, Belk confirmed its corporate employees are being required to return to in-office work three days at week at Belk’s headquarters at 2801 W. Tyvola Road. Belk signed a 15-year lease in 2016.

Belk’s corporate employees moved to remote work during the COVID pandemic.

In 2021, Belk said it would sublease its Charlotte headquarters on West Tyvola Road and shift the majority of corporate employees to teleworking. As of February 2021, Belk had about 1,200 corporate office employees.

Last May, Belk said it had been expanding its national product offerings and has now added over 250 brands since 2023.

The company has 17,000 employees and nearly 300 department stores in 16 Southeast states.

Belk bankruptcy and debts

The Belk family sold its department store chain to private equity firm Sycamore Partners for $3 billion in December 2015.

When the pandemic hit in 2020, the now 136-year-old department store was facing a $2 billion debt load and declining store sales.

Belk filed for and emerged from Chapter 11 bankruptcy in February 2021. The bankruptcy plan was approved within 24 hours, cutting its debt load by about $450 million, the Observer previously reported.

Belk also saw multiple leadership changes, including a lawsuit.

Lisa Harper, who had been Belk CEO since 2016 and was the company’s first CEO outside of the Belk family, was replaced July 2021 by longtime Belk employee Nir Patel.

But less than a year in the role, he left and Hendricks replaced him. Belk sued Patel, another former executive and GameStop Corp. over alleged “deceptive trade practices.” Belk filed a voluntary motion to dismiss the case with prejudice in 2022, and terms of the settlement were not disclosed.

Last July, Belk unloaded more than $950 million in debt and gave some lenders more controlling interests in the company.

The financial restructuring also included securing $485 million in new financing as part of its strategy to strengthen its financial standing.