Sears is quietly closing more stores than it said it would
Sears Holdings announced in January that it would shut down 150 stores this year, with most locations closing by April.
Now the company is closing even more stores.
Sears, which owns both Sears and Kmart stores, has been notifying local media of the additional closures over the last several weeks.
Most of the stores on the new list will start liquidation sales in April and close in July, though some will shut down in August.
Over the last month, the list of additional closures has grown from about five stores to more than two dozen.
Seritage Growth Properties, a company that owns more than 235 Sears and Kmart stores, is behind several of the closures, as Business Insider reported Sunday. Sears CEO Eddie Lampert is chairman of Seritage Growth Properties.
We compiled a list of the additional closures that the company has revealed so far, and will update this list as we learn of more locations that will shut down.
- 803 Martin Street S., Pell City, Alabama
- 1460 W. 49th St., Hialeah, Florida
- 424 Dairy Road, Kahului, Hawaii
- 33400 W. Seven Mile Road, Livonia, Michigan
- 2660 Hylan Blvd., Staten Island, New York
- 950 Ridge Road, Webster, New York
- 4480 Indian Ripple Road, Dayton, Ohio
- 16881 Conneaut Lake Road, Meadville, Pennsylvania
- 1 Millbrook Plaza Lane, Mill Hall, Pennsylvania
- 300 Lincoln Ave, East Stroudsburg, Pennsylvania
- 176 W Street Road, Feasterville, Pennsylvania
- 1011 Scranton Carbondale Hwy., Scranton, Pennsylvania
- 1801 Hydraulic Rd, Charlottesville, Virginia
- 494 Elden St., Herndon, Virginia
- 17911 Pacific Ave., S. Spanaway, Washington
- 273 Madonna Road, San Luis Obispo, California
- Westfield UTC, 4575 La Jolla Village Dr, San Diego, California
- Southbay Pavilion, 20700 S. Avalon Blvd., Carson, California
- 290 Providence Highway, Dedham, Massachusetts
- Aventura Mall, 19505 Biscayne Blvd., Miami, Florida
- 4250 Cerrillos Road, Santa Fe, New Mexico
- 3199 N White Sands Blvd., Alamogordo, New Mexico
- Monroe Crossing Mall, 2115 W Roosevelt Blvd., Monroe, North Carolina
- Northwoods Mall, 7801 Rivers Ave., North Charleston, South Carolina
- Valley View Mall, 13131 Preston Road, Dallas, Texas
- Provo Towne Centre, 1200 Towne Centre Blvd., Provo, Utah
Sears now has fewer than 1,500 stores, down from 2,073 five years ago.
The company is under pressure from years of plunging sales and last month lost its second chief financial officer in six months, just as it began talks with lenders over a looming debt payment from a $500 million loan facility that's maturing in July.
See a list of notable retailers shuttering locations in 2017: See Gallery
In a rare interview last week, Lampert spoke about the retailer's troubles and said "the reality is better than the perception."
He told the Chicago Tribune that Sears is "fighting like hell" to stay afloat but that unfair media coverage was making it difficult for the company to turn business around.
Regarding the potential for a Sears bankruptcy, he said, "We have as much time as our vendors and our lenders and our shareholders are willing to give us. We're trying to be proactive with our vendors, we're trying to be proactive with our members, with our employees, associates, etc., to explain that the reality is a lot better than the perception. The reality needs to be better than it is for us to really demonstrate to people that the transition is starting to take hold."
If you work for Sears or Kmart and your store is closing, reach out to email@example.com.
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