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Kmart stores in Versailles and Frankfort to close

05 November, 2017, 02:41 | Author: Kristen Ingram
  • Sears Holding has announced another round of closures to Sears and Kmart stores

Sears Holdings is set to close 45 Kmart stores and 18 Sears locations in January 2018.

The move comes in addition to the closing of about 250 stores already announced this year.

Sears Holdings has been shuttering Kmart and Sears stores nationwide for several years as it struggles to keep pace with competitors like Walmart.

By the end of this July, Sears Holdings had only 1,250 stores left in the United States, down from 3,400 at the start of 2006.

In turn, Sears is testing smaller store formats across the US, and in some cases moving to occupy a pint-sized portion of a bigger box, as mall operators look to redevelop their properties.

According to a statement from the company, employees were informed about the closings on Thursday. "We will continue to right size our store footprint in number and size".

The company says they plan to serve customers throughout the holiday season.

The Abingdon store is one of two anchor stores in the Abingdon Towne Centre shopping center near Cummings Street.

The Sears at River Ridge mall closed in 2013.

Liquidation sales will begin as early as November 9 at these closing stores. Its revenue for the quarter fell 22 percent to $4.37 billion, mainly because of store closures that cut $770 million from its revenues, the company said.

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