Struggling Sears To Close 18 Stores Including Two In East Texas
The 2017 holiday shopping season will be upon us soon and while we get ready to hit the malls and look for those special deals one troubled retailer will be closing their doors and two effect East Texas.
Video Source: Business Insider
Sears Holding Co. announced Thursday they are closing 18 Sears stores and 45 Kmart stores which covers 26 states. From AL employees were informed of the closures and stores will be set to close late January 2018. Out of the stores closing that will affect East Texas is the Sears location in Lufkin 4600 S. Medford Drive and the Kmart location in Texarkana 4520 W. 7th Street.
According to Business Insider Sears Holding has already closed 308 Kmart and Sears stores in 2017. Sears said in a statement
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," the company said. "It's important to note that these stores will remain open to serve members during the holiday season.
As far as their employees go eligible associates will receive a severance pay and have the opportunity to apply for other positions at other stores.
With these closures, it will bring the total number of Sears stores in the United States to roughly 680, which is down from 3,500 locations in 2010 and currently there are 610 Kmart locations in the United States.