Mandeville Kmart to close as part of national chain's downsizing

07 January, 2018, 10:30 | Author: Raquel Nash
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Two local Kmart stores are set to close in early April, their parent company Sears announced Thursday.

The move comes in addition to closing about 250 stores announced a year ago.

After April, Sears will still operate traditional stores at the Concord and Dover malls while keeping its "Hometown Stores" in Seaford and Middletown and its appliance outlet store in Newark. Liquidation sales start January 12.

Sears Holdings, once the largest retailer in the United States, said at the end of October that it operated 1,104 stores, almost half the 2,019 stores it ran in 2012. Sears leases the almost 200,000-square-foot store from Seritage Growth Properties, a real estate investment trust spun off from Sears in 2015. And by the end of October 2017, Sears Holdings had just over 1,000 stores left in the U.S.

The pharmacy at the Kmart store in Lower Paxton Township closed past year.

There are Sears locations remaining open at Castleton Square Mall and in Greenwood.

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"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size".

Sears also inked an agreement allowing it to sell up to 138 properties to help finance a $407 million contribution to its pension plans.

Employees at the stores were informed of the pending closures on Thursday.

"ORCRP017331-topic.html" class="local_link" >Sears Holdings Corp. will be closing over 100 more stores as the struggling department store chain tries to turn around its business.

"This closing opens up the door for some redevelopment so we have the opportunity to reinvent this anchor store, and help reinvigorate the Houston Galleria", Hogan said. Overall sales across the US grew by 4.9 percent from November 1 to December 24. Sears has yet to provide an update on sales during retail's crucial holiday shopping period.

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