Sears/Kmart to Close up to 120 Stores
Full list of closures is yet to be announced.
Sears Holdings has announced plans to close up to 120 Sears, Grand Essentials and Kmart locations in the coming months in response to weak sales. Included in a recently issued list of designated stores to close are 27 Sears hardlines-only and full-line stores across the country.
"Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model," said Chief Executive Officer Lou D'Ambrosio in a press release. "These actions will better enable us to focus our investments on serving our customers and members through integrated retail - at the store, online and in the home.
"Specific actions which we plan to take include closing 100 to 120 Kmart and Sears Full-line stores. Final determination of the stores to be closed has not yet been made. The list of stores closing will be posted at www.searsmedia.com when final determination is made."
States affected by the store closings announced so far include Colorado, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Michigan, MIssissippi, Missouri, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia and Washington.
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