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Thursday, November 27, 2014

Report: 109 Sears And Kmart Stores Now Expected To Close By Early 2015

There’s more cost-cutting planned at Sears Holdings through the end of this year and the beginning of next year. That news shouldn’t surprise anyone, but the total has increased to 39 Sears stores, and 70 Kmart stores, along with one Sears distribution center, one Kmart distribution center, and three Sears repair centers.

Financial research site Seeking Alpha used local news reports and information from current Sears and Kmart employees to assemble what it believes is a comprehensive national list of stores and facilities that are going to close. The list isn’t confirmed, because Sears Holdings will not confirm the truth of the list: at best, it will not deny the information that Seeking Alpha is putting out.

Two additions to the list are the Sears repair center and distribution center in Columbus, Ohio. The two Sears Auto locations that were slated for closing while the associated Sears store remained open have been removed from the Seeking Alpha list, probably due to clarification from Sears or updates from employees of that location. Some of the scheduled closing dates have also been moved up, which may prove problematic for shoppers using layaway plans, who now need to have their plans moved to another store or to, or perhaps canceled altogether.



Anonymous said...

Being in a mall vs building and owning a store and the land is breaking the chain retail stores.Why they went that route is a mystery.Currently the amount of $ paid in mall rent over a 4 year period is app equal to the amount it would take to buy the acreage necessary and build the store.What sane board of directors should ever have approved such a thing?If there is such a thing as a Wal Mart or Target in a mall anywhere in the country I am not aware of it.

Anonymous said...

Most retail stores mall or freestanding are leased because of costs associated with maintaining and updating building/shopping center.

Anonymous said...

Having just driven 40 minutes this morning one way to Rehoboth Beach KMart store for 4 pairs of bedroom slippers and 5 Everlast sweatshirts on sale that opened at 8 am only to find the quality of bedroom slippers identical in appearance on line to those that I bought less than 2 years ago, one from Sears and one from KMart were next to worthless. Much cheaper $$$ wise than the first two pairs but quality sucked. The same goes for the regular and hooded Everlast sweatshirts. Summer thickness, inferior period regardless of price. That's one of the main reasons their on their way out. Two labels that I read said made in Argentina and a south eastern country close to Viet Nam? Can't remember the name? I'll never go back. Two DSP cars near front door, two DSP officers standing inside shooting the **** watching customers. Why would anyone bother to steal crap?