I was really surprised when Arby's opened the location by the mall and kept the Florence Blvd location open. It must have worked out for Arby's though because not only did they renovate the Florence Blvd location but it seems to be doing fine. Also look at Rick's BBQ which has the location on Cox Creek and then built the new location near the Killen Bridge. Jack's built their new store on Wilson Dam Road and I thought it would replace the Woodward Av location but then I heard that Jack's was going to tear down the Woodward Av location and rebuild on that same site. Rick's BBQ is also building a Wilson Dam store and it will remain to be seen if they will also keep the Woodward Av store open.
So given how these other businesses seem to be successful having multiple locations fairly close might reason they could keep the 7-Points location open. I don't really know what their plans are but I was just repeating what I was told and that was that the new Cloverdale location would replace the one at 7-Points.