Zipp’s is closing its last store in the mall in downtown Scottersdale.
The company announced the deal Thursday morning, saying the new deal will keep the business open for the next year.
Zipp, which was founded in 1965 in Scranton, Pennsylvania, said it was looking to sell its existing locations to better meet its needs for more efficient service and greater convenience.
The move comes after Zipp opened more than 80 stores in Pennsylvania and Ohio over the past five years.
The deal with Zipp is the latest move in Zipp-Sears’ quest to diversify its portfolio, which includes the popular chain’s namesake brands.
The retailer announced in February it was selling the company’s namesake stores, which are also called Zipp or Zipper, to a private equity group.