Sears Will Close 103 Stores in the First Half of 2018
Jan 06 2018
Sears Holdings Corp. will close two dozen Sears Auto Centers, including three each in California and Texas, as part of a plan to close 103 stores in the company's latest round of closures announced on January 4.
Sears and Kmart have been losing billions of dollars and closing stores for years.
That means there will only be one store left in the state of Arkansas in Russellville. That store is scheduled to close in early April. The Macy's in downtown Miami also is closing the same month.
It wasn't clear from the release how many employees will lose their jobs in this latest wave of contraction, but it said eligible sales associates at the affected locations will receive severance packages and can apply for open positions at other Kmart or Sears stores near them.
Hoffman Estates, Illinois-based Sears Holdings Corp. owns Sears, Kmart and Roebuck and Co. More than 1,000 stores have closed nationwide in recent years, including approximately 250 locations last year. No Sears stores in MI are included in the latest round of shutdowns, which will take place between early March and April.
Sears Holdings, once the largest retailer in the United States, said at the end of October that it operated 1,104 stores, almost half the 2,019 stores it ran in 2012.
The company said the closures are part of an ongoing effort to "right size" its store footprint.