Saturday, 21 April, 2018

Kmart to close 64 stores this spring, including one in Cabot

Kmart to close 64 stores this spring, including one in Cabot Kmart to close 64 stores this spring, including one in Cabot
Faye Gross | 06 January, 2018, 01:40

The list includes 64 KMart stores, and 39 Sears outlets.

Kmart in Mandeville will shut down in early April as part of countrywide closures by Sears Holdings Corp., company officials announced.

That means there will only be one store left in the state of Arkansas in Russellville. The Sears Auto Center in the Berkshire Mall closed in December.

"Revenues were also negatively impacted by reductions in the number of pharmacies in open Kmart stores, as well as the reduction in consumer electronics assortments in both our Kmart and Sears stores", the November performance summary reads. But the troubled retailer has multimillions in loan payments due next year, which is one of the reasons it made yesterday's list of retailers who could file for bankruptcy in 2018.

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Sears Holdings, once the largest retailer in the United States, said at the end of October that it operated 1,104 stores, almost half the 2,019 stores it ran in 2012.

"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", the company said in a statement.

A Sears anchor store in the Town Center at Boca Raton is closing in early April, the second department store in South Florida that's announced plans this week to close its doors.

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