More Michigan Kmart Stores Scheduled to Close in 2018
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Liquidation sales will start next week at the 103 Sears, Kmart and Sears Auto Center stores that the shared parent company plans to close.
Sears Holdings Company [NASDAQ: SHLD] announced to employees on January 4 that it would close 64 Kmart stores and 39 Sears by April.
“We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” according to a news release.
Included on the list were two Kmart stores in Michigan:
The move will leave 13 Kmarts in Michigan, where the chain began, once four previously announced closings take place this month. Those closings affect:
Kmart had 38 stores in Michigan at the beginning of 2016, when aggressive rounds of store closings began, related to two factors: Chain financial performance and the landlord, Seritage Growth Properties, terminating their occupancy.
No information is available on how many employees will be affected by the store closings. The St. Clair Shores store listed 127 associates when it announced the layoffs.
Unclear is how the struggling retailer performed during the holiday season. Overall sales across the U.S. grew by 4.9 percent from November 1 to December 24.
