UPDATE: Magic Mart to shutter all stores, distribution center - WVVA TV Bluefield Beckley WV News, Weather and Sports

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UPDATE: Magic Mart to shutter all stores, distribution center

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FILE PHOTO: Magic Mart store closed down in Rainelle, WV in Sept. 2014. FILE PHOTO: Magic Mart store closed down in Rainelle, WV in Sept. 2014.

After nearly 100 years in the department store business, the Ammar family has decided to shutdown all of its Magic Mart stores.

Employees were told of the decision Monday morning during meetings held at Magic Mart locations and the corporate headquarters in Bluefield, Virginia.

"The reason for the closure is continued inadequate sales leading to substantial financial loses," stated in a letter delivered to employees. "We have attempted to address this issue in a variety of ways, but unfortunately, we have not been successful in these efforts. We thank you for your valued service to Ammar's and we are sorry that this decision had to be made."

The company expects to begin the liquidation in August.

President K.A. Ammar released the following statement Monday afternoon:

"After more than 97 years of serving southem West Virginia, southwest Virginia, and eastern Kentucky, Amrnar's Inc., parent company to [the] Magic Mart Stores is announcing that they are ceasing operations and will begin liquidation. It is with much sadness that this is occurring, but the difficult economic conditions that continue to persist in the markets we operate in have left the company no other choice. Anmar's has issued WARN Notices to all employees and will begin liquidating the inventory around August I.".  

All locations are expected to be closed sometime around November. 

According to the company website, there are more than a dozen stores located in Kentucky, North Carolina, Virginia, and West Virginia.

In April of this year, the company announced the closure of its store in Lexington, NC. It's Rainelle location shutdown in September 2014.

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