BUSINESS NEWS

26 Sears, Kmart stores to close, company ‘cannot rule out’ more

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Sears emerged from bankruptcy earlier this year when its CEO at the time, Eddie Lampert, secured a roughly $5 billion deal using his hedge fund ESL to buy the retailer’s assets out of court, keeping about 400 Sears and Kmart locations up and running. The new entity of assets was renamed. And Lampert stepped down from his CEO role but still serves as chairman of TransformCo.

As a private company, TransformCo has largely flown under the radar, as it doesn’t have to report quarterly sales reports, which tended to be very dismal for Sears. In May, it opened three “Sears Home & Life” stores — a new format it says it’s testing where it focuses mainly on selling mattresses, appliances and connected home products.

Hundreds of Sears and Kmart locations have gone dark over the years, with more shoppers moving away from the mall and purchasing goods like appliances, apparel and furniture online. And TransformCo still faces those same challenges today.

A spokesperson for the company declined to comment on how many employees would be impacted by the latest round of closures.

Kmart 1625 W Redlands Redlands CA

Kmart 14011 Palm Drive Desert Hot Springs CA

Kmart 159 Wilbraham Road Palmer MA

Kmart 975 Fairmount Avenue Jamestown NY

Kmart Puerto Rico Hwy 3 Plaza Guayama Guayama PR

Sears* 2500 Riverchase Galleria Birmingham AL

Sears* Somersville Road Antioch CA

Sears* 8501 W Bowles Avenue Littleton CO

Sears* 6200 20Th Street Vero Beach FL

Sears* 901 Us 27 N Sebring FL

Sears* 3700 Atlanta Hwy Ste 270 Athens GA