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LI Kmart to close

LI Kmart to close

Sears Holdings on Thursday announced it will close 63 Sears and Kmart stores.

Tacoma will say goodbye to its Sears store at the Tacoma Mall in early September.

Sears Holdings will close another 100 unprofitable stores after another quarter of losses and slowing sales.

The 72 stores were among 100 Sears identified that are no-longer turning a profit.

In its first quarter ending on May 5, Sears Holdings reported losing $424 million. Last year, Macy's shuttered a mall store in Alton while Sears Holdings announced the closing of Kmart stores in Belleville and south St. Louis County, leaving just two Kmarts in the St. Louis area.

"Customers can use the store locator function on our websites to find the location of their nearest Kmart and Sears stores", the company reports.

"You've basically closed half the store base over the last few years and your "best" stores are still negative 12 percent", he said.

The closings mark the latest move in the company's bid to stay afloat, which saw a glimmer of hope last month when CEO Eddie Lampert offered to purchase the struggling retailer's real estate through his hedge fund, ESL Investments Inc., in order to salvage his retail enterprise.

The J.C. Penney store at Bonita Lakes closed a year ago after the company announced it was closing two distribution facilities and 130-140 retail stores.

Heading into Thursday's announcement, Kmart and Sears had 30 stores in MA. "Following is a list of the impacted stores". Liquidation sales at the affected locations could start as soon as June 14.

Assistant City Manager Jerry Bahorski on Thursday said the principle focus of the citys plan is redeveloping the property into a mixed-use development.

The company announced recently that shoppers could buy any brand of tires on, have them shipped to a Sears Auto Center and then bring in their vehicle to get them installed. One Kmart store remains open on the Avenue of the Cities in Moline.

Business Insider noted that revenue for Sears has dropped more than 30 percent in the most recent quarter.

The sale of Kenmore would be part of a broader effort by Sears to sell off its successful brands.



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