Valu Home Center

A vehicle drives past the Valu Home Center on West State Street in Olean on Tuesday. Company officials announced the store, along with two others, will close this year.

OLEAN — Olean’s Valu Home Center hardware store will be one of three to close this year.

“This was a difficult and emotional decision for our family because we have operated these stores for many years in communities that we have come to know and love,” said Valu Home Centers president and CEO Michael Ervolina Jr. “And while our remaining 38 locations are strong, it was important to make this decision in order to keep our business healthy well into the future.”

Employees have been offered positions at the remaining Valu stores, company officials said. No final closure date was announced, but the liquidation sale is set to begin Monday.

The store, at 2610 W. State St., is owned by Olean Properties LLC, a Buffalo-based corporation under the umbrella of Valu.

The Olean, Painted Post and Warren locations were removed from the store search on Valu’s website as of Tuesday afternoon. 

The Valu building was constructed in 1970, while a secondary structure closer to West State Street was built in 2000, according to Cattaraugus County property records. The second structure houses The Hite Company store and M&T Bank. For both buildings, the county estimates the total property taxes of the site in 2020 will be more than $76,000.

The property is adjacent to Holiday Park Center, owned by Park Center Development.

Founded in 1968 in Buffalo, Valu remains family-owned and operated, company officials said. Other nearby locations include Bradford, Pa., and Lakewood.

(Contact City Editor Bob Clark at Follow him on Twitter, @OTHBob)