Tags: kmart | closings | stores | layoffs

Kmart Closings: 64 More Stores in 28 States to Shutter by Christmas

Image: Kmart Closings: 64 More Stores in 28 States to Shutter by Christmas

A Kmart department store is seen in Springfield, Virginia, October 23, 2014. (Saul Loeb/AFP/Getty Images)
 

By    |   Tuesday, 20 Sep 2016 07:45 AM

Kmart is closing 64 more stores across the country in the latest round of shutdowns that will see the stores in question shutter by Christmas.

The announcement continues a trend of store closings by Sears Holdings, the mass-merchandise retail chain's owner, USA Today reported. Such "big box" retailers have struggled against competition and online merchants such as Amazon.

In April, Sears announced that it would close 68 Kmart stores over the summer. The Associated Press reported in February that Sears Holding was speeding up the closure of 50 Sears and Kmart stores previous targeted.

The new closings include 17 stores that were part of a chunk of 235 sold to Seritage by Sears Holding last year.

"As such, we have informed Seritage that we will soon be exiting 17 Kmart stores,'' Sears Holdings spokesman Howard Riefs said, according to USA Today. "We have been strategically and aggressively evaluating our store space and productivity, and will be accelerating the closing of unprofitable stores as we have previously announced.''

According to Business Insider, Moody's analysts warned earlier this month that Sears and Kmart did not have enough money to stay in business. The analysts had downgraded Sears' liquidity rating, stating that the company would continue to need outside funding or sell its assets to continue operating.

"We recognize the risks associated with relying on these sources and continued shareholder support to finance its negative operating cash flow which is estimated by Moody's to be approximately $1.5 billion this year," the analysts wrote, according to Business Insider.

"The ratings . . . reflect our view on the uncertainty of the viability of the Kmart franchise in particular given its meaningful market share erosion," the analysts continued.

Kmart has about 870 stores today, down from about 1,300 in 2012, according to the news site.

Here are the stores expected to close in December, according to Business Insider:

Kmart #3044: Lawton, OK
Kmart #3180: Merrillville, IN
Kmart #3241: Springfield, IL
Kmart #3320: Houma, LA
Kmart #3328: New Lenox, IL
Kmart #3355: Panama City, FL
Kmart #3359: Gardendale, AL
Kmart #3521: Binghamton, NY
Kmart #3556: Elkhart, IN
Kmart #3594: Chicago, IL
Kmart #3644: Nashville, TN
Kmart #3695: Sierra Vista, AZ
Kmart #3706: Wytheville, VA
Kmart #3754: Martinsville, VA
Kmart #3814: Kearney, NE
Kmart #4066: Jackson, MI
Kmart #4095: Joliet, IL
Kmart #4135: Augusta, GA
Kmart #4162: Salt Lake City, UT
Kmart #4175: Canton, OH
Kmart #4176: Cheektowaga, NY
Kmart #4439: Yakima, WA
Kmart #4700: Fenton, MI
Kmart #4717: Oak Ridge, TN
Kmart #4739: Clarksville, TN
Kmart #4772: Burnham, PA
Kmart #4781: Macomb, IL
Kmart #4837: Riverton, WY
Kmart #4845: Manistee, MI
Kmart #4851: Byron Center, MI
Kmart #4910: Mentor, OH
Kmart #4917: Thornton, CO
Kmart #4961: Burlington, NC
Kmart #4970: Memphis, TN
Kmart #4972: Lubbock, TX
Kmart #4984: Tinley Park, IL
Kmart #7024: Scottsbluff, NE
Kmart #7061: New Iberia, LA
Kmart #7077: Harlingen, TX
Kmart #7174: Pikeville, KY
Kmart #7205: Grand Rapids, MI
Kmart #7216: Moorhead, MN
Kmart #7306: Sioux Falls, SD
Kmart #7356: Jonesboro, AR
Kmart #7412: West Valley City, UT
Kmart #7478: Waipahu, HI
Kmart #7551: Indio, CA
Kmart #7560: Craig, CO
Kmart #7587: Fontana, CA
Kmart #7625: Los Angeles, CA
Kmart #7642: Natchez, MS
Kmart #7718: Hixson, TN
Kmart #7733: Alpena, MI
Kmart #7755: Deming, NM
Kmart #7775: Lafayette, IN
Kmart #7795: Abilene, TX
Kmart #9129: Mount Airy, NC
Kmart #9146: Great Barrington, MA
Kmart #9397: West Saint Paul, MN
Kmart #9571: Cullman, AL
Kmart #9586: Sault Saint Marie, MI
Kmart #9623: Springdale, AR
Kmart #9728: Smyrna, TN
Kmart #9751: Cody, WY

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Kmart is closing 64 more stores across the country in the latest round of shutdowns that will see the stores in question shutter by Christmas.
kmart, closings, stores, layoffs
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2016-45-20
Tuesday, 20 Sep 2016 07:45 AM
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