![]() ![]() ![]() It plans to “accelerate the expansion” of its smaller-formart stores, Sears Home & Life. Sears is moving forward on a strategy it believes will revitalize its brand. The company said laid-off employees will be offered the same amount of severance that Sears Holdings gave to employees prior to its October 2018 bankruptcy. “Our goal remains to return the company to profitability and preserve as many jobs as possible in the communities we serve,” it said in a statement. warned more store closures could soon be on the horizon. “These challenges have unfortunately affected our performance and limited our strategic choices,” Transform Co. It also attributed some of the company’s problems to its ongoing court battle with Sears Holdings, the still-bankrupt remnant of the company that used to own Sears and Kmart. The company blamed “a generally weak retail environment” for the closures. Liquidation sales will begin in mid-August and the stores will close in late October. It plans to close five Kmarts and 21 Sears stores across the United States and Puerto Rico. The parent company of Sears and Kmart, called Transform Co., said Wednesday that it has “faced a number of challenges returning our stores to sustainable levels of productivity. More than two dozen Sears and Kmart stores are closing, including locations in California, as the company continues to struggle after emerging from bankruptcy. Please look at the time stamp on the story to see when it was last updated. ![]() This is an archived article and the information in the article may be outdated. ![]()
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