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Lloyd Center Sears on list of stores to close; Springfield outlet too
08 January 2018, 02:01 | Marta Robbins
Mandeville Kmart to close as part of national chain's downsizing
According to CNBC, Sears Holdings will close 100 stores between March and April this year. After the planned closures this year, Sears will operate about 1,000 Sears and Kmart locations.
Customers can use the store locator function on stores websites to find the nearest store.
"There are other stores that aren't located in our market like DSW, Marshalls, and Five Below, all those stores that bring a more boutique style shopping instead of this big box retailer", Hogan said.
Seritage aims to capture higher rates by slicing up Sears anchor stores into smaller spaces and re-leasing them - such as the former Sears at the King of Prussia Mall, which is now occupied by a Primark and a Dick's Sporting Goods. Liquidation sales at the affected locations would start January 12.
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The company is also closing Sears stores in Coeur d'Alene and Twin Falls, Idaho. Sears Holdings said the number of employees impacted was not available, stating a majority of the jobs are part-time positions.
"It's a shame to see the regulars go", said Springfield resident Fay Lister, who said she has shopped at the Springfield Sears store, mostly for appliances, "for as long as it's been here". Six years ago, the company had 3,510 stores.
On the mall's east end, the former Sears building's upper floors will house a 14-screen movie theater encased in glass.
The company reported a net loss of to $558 million, or $5.19 per share, on sales of $3.7 billion in the three months ending October 28. "In the process ... we will continue to close some unprofitable stores".
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