Sanford Kmart to close in April

Jan 06, 2018, 01:42
Sanford Kmart to close in April

Sears Holdings Corp. recently announced its closing 103 more stores, including 64 Kmart locations and 39 Sears stores.

Sears and Kmart have been losing billions of dollars and closing stores for years.

The good news for Berkshire County Sears aficionados is that only one of the stores slated for closure on the most recent list is located in MA, a Sears outlet in Burlington.

"Revenues were also negatively impacted by reductions in the number of pharmacies in open Kmart stores, as well as the reduction in consumer electronics assortments in both our Kmart and Sears stores", the November performance summary reads.

The Midland location will close early this month. Other New England stores slated for closure are KMarts in Rutland, Vt. and Rochester, N.H. The associated Sears Auto Center will close in late January.

Sears Holdings has been closing Sears and Kmart stores since 2012 as the company struggles to remain afloat in a changing retail marketplace.

Sears Holdings said all affected stores will close by the end of April. But the troubled retailer has multimillions in loan payments due next year, which is one of the reasons it made yesterday's list of retailers who could file for bankruptcy in 2018.

The company said the closures are part of an ongoing effort to "right size" its store footprint.

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