Bismarck, Devils Lake Losing Two More Box Stores

06 January, 2018, 04:37 | Author: Kathy Ellis
  • Bismarck, Devils Lake Losing Two More Box Stores

Sears Holdings, which owns both Sears and Kmart, made the announcement Thursday, building on months of similar closings aimed at getting the company on solid financial footing.

The company has released a new list of 103 Sears and Kmart stores it will be closing by this spring, 10 Kmart stores closing are in Pennsylvania and three Sears.

Five of those Kmarts, including the one in Sanford, are located in North Carolina.

The only local store impacted is the Midway Park Kmart in Jacksonville.

In a statement issued on the company's website, Sears Holdings plans to close another 100 stores after shuttering dozens in 2017.

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Sears stores in Green Bay and Brookfield will, however, be closed in March or April.

A Sears spokesman said Thursday the number of workers affected was not available.

"In the process, as previously announced 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".

According to Business Insider, Sears is losing more than $1 billion a year with sales down 45 percent since early 2013, while carrying a debt load $4 billion.

The decline of Sears Holdings has been swift in recent years.

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