Sears Holdings said it plans to close 118 Kmart locations and 32 Sears stores.
In a statement, Sears said the closings are part of a program to “to strategically and aggressively evaluate our store space and productivity, and accelerate the closing of some unprofitable stores as the company has previously announced. ”
Among the actions are:
• On Wednesday, January 4, 2017, the company informed associates at 78 Kmart stores and 26 Sears stores that their stores would be closing this spring.
• On Tuesday, December 27, 2016, the company informed associates at 30 Kmart stores and 16 Sears stores that their stores would be closing this spring.
“The decision to close stores is a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation,” Sears said. “Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success. Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”
Liquidation sales will begin as early as January 6 at all closing stores. Following is a complete list of the impacted stores.
