Costco may be moving into a location previously occupied by Sears, a once-popular department store now down to just five locations.
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According to local outlet WTKR, the wholesale chain may be coming to the Greenbrier Mall in Chesapeake, Virginia. The report cited a permit application recently filed in the city.
A permit application was submitted for a gas station tied to a future Costco development. A contact on the application confirmed to WTKR that plans to bring Costco to the mall are in the early stages.
If the permit is approved, site plans must be prepared and submitted to the city council and planning commission for review.
If the plans move forward, Costco will take over the former Sears building at Greenbrier Mall, which has been empty since the department store started closing its locations.
Sears Had Over 3,500 Stores at Its Peak
At its peak, Sears operated over 3,500 stores, but now has only five remaining. The company filed for bankruptcy in 2018, reporting losses of around $11 billion. At the time, the department store chain still had 700 locations.
The company struggled to compete with online retailers like Amazon and sold off many of its stores. It also sued hedge fund magnate Edward S. Lampert, accusing him of stripping $2 billion in assets through insider dealings.
The lawsuit was settled for $175 million in 2022.
Costco Has Plans for Major Expansion for the Next 2 Years
Meanwhile, Costco recently updated its expansion plans for 2026. While the company initially announced in September that it intended to open 35 new locations, it revised that estimate in December to 28 stores.
CEO Ron Vachris acknowledged minor challenges with new store openings. However, he confirmed Costco’s plan to open 30 stores annually starting in 2027. In 2026, the company will also remodel several locations and relocate five stores as part of its ongoing investment in its warehouses.