Wednesday, 21 November, 2018

Sears in Boynton Beach to close

Sears to close Grand Island location Kmart in Springfield to shut down
Priscilla Morrison | 10 November, 2018, 21:16

The number of stores had peaked in 2012 at 4,000, including its Sears Canada division that was later spun off.

The company says 40 stores in total will close in February, with liquidation sales beginning in the second half of the week of November 12, according to CNBC.

Sears Holdings, the parent company of Sears and Kmart, filed for bankruptcy October 15 and is trying to find funding to keep operating long enough to find a buyer and avoid liquidation.

The latest round of closings include the last Kmart in Chicago, at 3443 W. Addison St.in the city's Avondale neighborhood, and a store in Springfield.

More news: Anirban Lahiri tied third in Mexico

With many retail chains feeling the pain of increased automation and online sales, brick and mortar stores as well as the retailers themselves have announced closings, and with them, mass layoffs.

Company officials have blamed a variety of factors, including competition from online vendors and a change in consumer buying habits.

Sears Holdings announced Thursday that 11 K-Marts and 29 Sears locations will shut their doors in February.

Officials at La Cumbre Plaza could not immediately be reached for comment about the closure.

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