Nearly six months after exiting bankruptcy, Sears and Kmart's parent company announced 26 stores would close in late October. See the full list.
After closing thousands of stores over the years, and nearly six months after emerging from bankruptcy with about 425 stores, the two retailers' parent company announced Tuesday that 21 Sears and five Kmart stores will close in late October.
Larry Costello, a Sears and Kmart spokesman, said Wednesday the company has “about 380 stores that remain open and we are focused on helping those stores thrive in their respective markets.” Lampert, who relinquished the CEO role when the company filed for bankruptcy, was the company's largest shareholder and creditor at the time of the bankruptcy.
“After careful review of where we are today, we believe the right course for the company is to accelerate the expansion of our smaller store formats which includes opening additional Home & Life stores and adding several hundred Sears Hometown stores after the Sears Hometown and Outlet transaction closes,” the Sears statement said.
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