Belk relocates headquarters remotely and sublets Charlotte headquarters

Belk plans to sublet its Charlotte headquarters on West Tyvola Road, the company confirmed on Tuesday evening.

The move helps the Charlotte-based department store chain move company employees to full-time or part-time remote work, Belk said.

Like other large businesses in Charlotte, Belk plans to mix office and remote work after more than a year of telecommuting by office workers during the coronavirus pandemic.

As of February, Belk had approximately 1,200 employees at the head office.

Productivity and communications have improved during COVID-19, company spokeswoman Jessica Rohlik told The Observer, and employees “largely” support working from home.

“We have been able to adapt and innovate, and have strategically reoriented our home office staff to continue to work primarily remotely,” said Rohlik.

CoStar, a publication from the commercial real estate industry, first reported the news.

Belk also plans to use the excess space in local stores for meeting rooms and offices, Rohlik said, which will help company employees work more closely with store products and customers.

The majority of the company’s employees will work remotely, Rohlik said, and no layoffs are expected as a result of the transition.

Belk’s siege

Belk signed a 15-year lease on his property at 2801 W. Tyvola Road in 2016. At that time, some of the company’s employees were grouped into one of its buildings on an area of ​​475,000 square feet.

Last July, Belk cut an undisclosed number of jobs, mostly at its head office. This followed 80 company jobs cut five months earlier.

Other changes at Belk

Belk also made other changes to the company’s leadership this month, including appointing Nir Patel as CEO.

Lisa Harper, who has been CEO since July 2016, is now Executive Chairman of the Board of Belk.

The company has 17,000 employees and 291 department stores in 16 Southeastern states.

Belk bankruptcy and re-emergence

Belk, owned by private equity firm Sycamore Partners, filed for bankruptcy and exited Chapter 11 in February. The Belk family sold the department store to Sycamore in 2015 for $ 3 billion.

When the pandemic struck last year, the 133-year-old department store faced $ 2 billion in debt and declining store sales.

The bankruptcy plan was approved within 24 hours, reducing his debt by about $ 450 million, the Observer previously reported.

The company then said it planned to keep all of its stores open.

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Catherine Muccigrosso is the retail journalist for The Charlotte Observer. An award-winning journalist, she worked for several newspapers and McClatchy for over a decade.

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