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Sears Closing

Kiara Rogers, Staff Writer

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The company has closed several hundred stores in recent years as it tries to stabilize its finances amid deteriorating sales. The latest round, announced Aug. 23, involved plans to close 13 Kmart stores and 33 Sears locations in November.

Early in 2018, Sears Holdings said that it would close 166 stores this year. In May, the company said it had identified 100 more unprofitable stores in the U.S. and would close 72 of them soon. Sears then tweaked those plans and said it would shut down “only” 63 locations, including 48 Sears store closures and 15 Kmart store closures. Another list was released at the end of August this one announcing liquidation sales at 46 Sears stores, starting immediately. spokesman Howard Riefs declined to confirm the latest round of closures, referring instead to the company’s Sept. 13 statement: “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.” These are just the latest in a list of upcoming locations set to close, Money magazine reports. Two weeks ago, they announced they’d be closing 40 stores in 24 states, and before that, they said 166 stores would be closing in 2018. So at this point, 266 stores could be set to close this year. The closings come as the company deals with sluggish sales. Overall revenue fell 31% in the last three months, though most of that was because of closed stores, According to a press release from the chains’ parent company, Sears Holdings, 63 non-profitable stores will close, and store closing sales will begin shortly. These stores are part of 100 locations the company has identified as “low performers.” Originally, the company announced 72 stores would close, but changed that number hours later as certain stores “are being evaluated further.”

Face of a Sears Store that will be closing

The one significant upside at Sears liquidation sales is that absolutely everything in stores is marked down. Whereas with weekly sales and even events like Black Friday, shoppers have to sift through full-price merchandise to find the deals, Sears liquidation sales feature across-the-board discounts on all items, and even the store fixtures are on sale. Liquidation sales at the additional stores are expected to begin within two weeks, according to a court filing. “As we look toward the holiday season, Sears and Kmart stores remain open for business, and our dedicated associates look forward to serving our members and customers,” Sears chairman Eddie Lampert said in a statement. The company has 687 stores remaining, including Kmart locations. It’s possible more stores – even all stores – could end up closing if the company fails to reach a viable restructuring agreement in bankruptcy. The company has closed several hundred stores in recent years as it tries to stabilize its finances amid deteriorating sales. The latest round, announced Aug. 23, involved plans to close 13 Kmart stores and 33 Sears locations in November. Eligible employees affected by store closings will receive severance and have the chance to apply for open jobs at other Kmart or Sears stores in the area.

Kiara Rogers, Staff Writer

Kiara, who also goes by “Kiki,” has been attending Wheeler High School for her sophomore year. She moved all the way from the Caribbeans and had been...

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Sears Closing