Sears Denies Latest Rumors Of Store Closures
Sears Holdings is denying rumors that it plans on closing more than 100 Sears and Kmart stores and laying over close to 6,100 employees – many closings allegedly set to happen around the Christmas shopping season.
According to Financial News and Market Tracker Seeking Alpha, liquidation sale notices were mailed out last month, which would lead to the closer of 30 Sears department stores, 31 Sears Auto Centers and 55 Kmart Stores.
Seeking Alpha said the store closures were happening in the following states:
- Alabama
- California
- Florida
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Maine
- Maryland
- Michigan
- Minnesota
- Missouri
- Montana
- New Jersey
- New Mexico
- New York
- Ohio
- Pennsylvania
- Vermont
- West Virginia
- Wisconsin
In the first part of 2014, Sears Holdings had shuttered about 100 stores, leaving it with 1,100 Kmart stores and 800 Sears stores.
Howard Riefs, a company spokesman, said there is no accurate count for the store count and closures. However, he did not give any additional information regarding layoff numbers or store closures.
Riefs said, as the company stated in its second quarter earnings report, the company would shutter stores that are not making a profit as leases expire. It would also speed up the closings if it’s economically feasible. He said the company would consider shutting down other stores throughout the rest of the year. Riefs said the store is important in the company’s changes, but if it fails to turn a profit, it would be considered for shuttering.
He said an update of the store count would be listed in the company’s third quarter earnings report set for release later on this year. All closing stores have been told of the plan with teams and associates being notified of the layoffs.
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