MI stores in new round of Sears & Kmart closings

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Sears Holdings announced today that it is closing 64 Kmart stores, including its location at Laurel Mall near Hazleton.

Three Sears and three Kmart stores in IL will close this spring in Sears Holdings Corp.'s latest round of cuts. Liquidation sales will begin in mid-January. "In the process ... we will continue to close some unprofitable stores". Midland, Austin, and Houston will all see one Sears location close while Portland, TX will see it's Kmart close.

The company has closed hundreds of stores in recent years amid ongoing challenges for brick-and-mortar retailers; Thursday's news follows an announcement two months ago that 63 stores would close.

Sears at the Galleria Mall in Centerville is closing in early April as part of a nationwide reduction.

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"There is an opportunity for us to use the existing retail and have this open space because it doesn't get any better that existing Watson frontage opening up for 3 or 4 stores", Hogan said.

In July 2015, Sears Holdings created New York-based Seritage Growth Properties, an independent real estate investment trust (REIT), to better manage its remaining assets and to take on the role of a landlord.

Sears had already been planning to downsize in Orland Park, where it's been an anchor store since the mall opened in 1976.

The Kmart in Salisbury, Maryland, is one of the locations that will also close in early April and so, too, are 10 Kmart sites in Pennsylvania. 28, it had 594 Sears stores and 510 Kmarts in the USA, 399 fewer stores overall than a year prior.

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