Can retail be rescued? Why so many U.S. stores are closing
Transform Holdco, the parent company of Sears and Kmart, announced closings of 21 Sears locations and five Kmart stores on Wednesday. They’re expected to close in late October.
The announcement comes after years of financial difficulties facing both retailers, which forced Sears Holding Corporation to file for Chapter 11 Bankruptcy last year.
The Sears at North East Mall first opened in 1978, about eight years after the shopping center opened. It has served as an anchor in the northwest corner of the mall through its many renovations over the years.
On the bright side, a store closing means liquidation sales. They’re expected to start Aug. 15.