Sears announces another round of store closings
Sears Holdings Corp. has lowered the boom — again.
The embattled retailer announced it is shuttering 46 more stores, with the locations scattered around the country. The stores — 33 Sears and 13 Kmarts — will close this November, and liquidation sales will begin as early as Aug. 30. (For a list of the affected stores, click here.)
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” Sears said in a statement. “Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”
The latest round of closures comes on the heels of an offer from ESL Investments, the hedge fund run by Sears CEO Eddie Lampert, to acquire the chain’s signature Kenmore appliance brand.
Sears has announced several rounds of closings so far this year, starting in January when it said it planned to close some 103 stores. Most recently, in May, it posted a list of 15 Kmart stores and 48 Sears stores that it said would close in early September. With the latest announcement, Sears’ total announced store closures this year are at nearly 300.
As of May 2018, Sears was operating 894 stores, although it is believed some are now in the midst of closing.
The embattled retailer announced it is shuttering 46 more stores, with the locations scattered around the country. The stores — 33 Sears and 13 Kmarts — will close this November, and liquidation sales will begin as early as Aug. 30. (For a list of the affected stores, click here.)
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” Sears said in a statement. “Eligible associates will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”
The latest round of closures comes on the heels of an offer from ESL Investments, the hedge fund run by Sears CEO Eddie Lampert, to acquire the chain’s signature Kenmore appliance brand.
Sears has announced several rounds of closings so far this year, starting in January when it said it planned to close some 103 stores. Most recently, in May, it posted a list of 15 Kmart stores and 48 Sears stores that it said would close in early September. With the latest announcement, Sears’ total announced store closures this year are at nearly 300.
As of May 2018, Sears was operating 894 stores, although it is believed some are now in the midst of closing.