Sears Holdings has announced it will close 108 Kmart stores and 42 Sears stores this year. The Fairhaven Kmart is among those slated to be closed. The Kmart in So. Attelboro and the Sears Auto Center at on Swansea Mall Drive in Swansea will also be closed. All the Massachusetts announcements were made on 12/27.
In a statement, the company wrote: “Sears Holdings will continue to strategically and aggressively evaluate our store space and productivity, and accelerate the closing of some unprofitable stores as the company has previously announced. As such:
• On Wednesday, January 4, 2017, the company informed associates at 78 Kmart stores and 26 Sears stores that their stores would be closing this spring.
• On Tuesday, December 27, 2016, the company informed associates at 30 Kmart stores and 16 Sears stores that their stores would be closing this spring.
“The decision to close stores is a difficult but necessary step as we take actions to strengthen the Company’s operations and fund its transformation. Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success. Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.
“Liquidation sales will begin as early as January 6 at all closing stores.”
The Massachusetts stores will close at the end of March.
For a complete list of closing stores, visit http://searsholdings.com/docs/010417_store_closing_list.pdf
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