Spring Hill Mall Sears store to close by February

The opening of a revitalized Kmart Store in Des Plaines Ill

Fifty-one Sears stores and another 45 Kmart locations will soon be closing across the country, according to Transformco, the company that acquired the beleaguered retailers out of bankruptcy. Going out of business sales will begin on December 2, 2019 at many locations.

A total of 96 more store closings were announced by the parent company of Sears and Kmart on Thursday. "We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy", the company said, hinting at the possibility of additional closures in the future. The retailer of kitchen utensils and appliances plans to close all 160 of its stores by the end of the year.

It was just announced the Kmart in Waterford will be closing its doors.

Sajid Javid: Tories will increase borrowing to invest in infrastructure
Mr McDonnell added: 'It will mandate us to deliver an improvement in the overall balance sheet by the end of the Parliament. Under a third rule the framework would be reassessed if future borrowing costs rise significantly to above average.

Transformco cited "a hard retail environment and other challenges" for the drastic move.

All stores are expected to close by February 2020. "To support these initiatives, our owners - along with a third-party investor - have recently provided the company approximately $250 million in new capital".

Transformco's assets include Innovel, which provides logistics solutions to businesses and consumers; Sears Home Services; Shop Your Way; and the Kenmore and Diehard brands.

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