Sears disputes report of 100+ store closings

SHARE Sears disputes report of 100+ store closings

Sears Holdings Corp. on Thursday disputed an investment research website’s report that the struggling retailer plans to close at least 100 stores and shed nearly 5,500 jobs in the next few months.

Sears said the store count and list of closures compiled by Seeking Alpha are inaccurate but didn’t offer corrected information. The investment research website Thursday morning reported the Hoffman Estates-based retailer has announced liquidation sales for 46 Kmart, 30 Sears and 31 Sears Auto Center locations since mid-September.

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“We will update our store count in our (third-quarter) financial results announcement later this year,” Sears Holdings spokesman Howard Riefs said in an email. “All of these closing stores have been previously notified, and their associates and teams advised.”

“As we have previously communicated, adjusting our physical footprint to focus on our best performing locations is a core component of our transformation. While this has resulted in store closures where appropriate – decisions that we do not take lightly – we continue to have a substantial nationwide footprint with a presence in many of the top malls in the country.”

Several store closings, including a Sears store and auto center in Forsyth, near downstate Decatur, were reported here in September.

Seeking Alpha, citing liquidation notice filings, reported two Kmart stores (in downstate Bloomington and Peoria) and two Sears stores with auto centers (Forsyth and Danville) will be closed in Illinois. The retailer plans to close 7 Kmart stores and one Sears store and auto center in Indiana.

h/t Reuters

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