An announcement on the store's Instagram states that the South Garner Street location will close permanently at 7 p.m. on January 15.
Nicholas Feinstein, 22, was expected to graduate this spring with a degree in enterprise technology integration.
Mulbah will enter the transfer portal will three years of eligibility remaining.
The Nittany Lions earned high grades across the board following their Rose Bowl victory over the Utes.
Jalen Pickett's 26 points and nine rebounds were not enough to complete the Nittany Lions' comeback attempt in Ann Arbor.
Kevin Wall and Liam Souliere have been an integral part of Penn State's success this season.
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