Over 60 more Sears and K Mart stores are closing. The retailer announced it will begin closing sales in the near future.
Sears’ same-store sales have continued falling at a double-digit percentage. The company has burned through nearly five and-a-half billion dollars in cash over the past three years.
According to the company, as part of ongoing efforts to streamline operations and focus on the best stores, they have identified approximately 100 non‐profitable stores, many of which will begin store closing sales in the near future. They continue to evaluate their network of stores, and will make further adjustments as needed and as warranted.
The company informed associates at 15 Kmart stores and 48 Sears stores they will be closing those stores in early September 2018. 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 June 14 at these closing stores.
One store in Kansas is on the list. The Sears store in Topeka at 1781 SW Wanamaker Road is being closed.
The K Mart Store in Salina is not on the list, and will remain open.