Sears and Kmart to Close 100 to 120 stores in 2012
Bad news especially if you happen to have a nearby Sears of Kmart location as a toy collecting resource. No word on which stores for either store operation will be closing.
We’ll post those locations once we hear from Sears Holdings what / where they are. If you would like to know more, you can read the release here:
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27 December 2011
15 Comments
I suspect JCPenny will be joining the soon to be extinct list of retail stores, if it continues the marketing strategy in place now. In the last round of K-Mart closures we lost a store that was too close to a new Super Wal-Mart and a Target. It’s hard to be competitive when you try so hard to price yourself out of existence.
My Sears has been closed since this summer. They are still open to the north in Hagerstown and to the south in Winchester. My Kmart seems to be still alive and kicking. Whenever I go in there, I see about 5 or 6 people shopping. Walmart and Target just seem to have pushed them out of the way. Everything sells for 2-3 dollars more in Kmart and they just can’t compete with those two. I wouldn’t even go in there if it wasn’t for my Cars collecting habit.
Looks like 10-12,000 unhappy families…
While I agree with your sentiment, I’d guess that your estimate is 3 to 4 times too high. My Kmart is pretty good sized, but there’s no way they employ 100+ people. I go there a LOT and could probably identify 40 faces tops. And after you average in the Sears Appliance stores and the Grand Essentials locations, the number is even smaller. But again, I agree with your sentiment.
In a list of 79 proposed closings with probably more to come,
about half are KMarts.
Read it and weep, folks:
http://www.searsmedia.com/tools/122711_close.pdf
Hope I don’t lose my KMart and/or Sears.
If there is good news in any of this – there will be clearance sales for sure.
Maybe they’ll close their awful website while they’re at it.
I heard about this on local talk radio today. They said that the Sears and KMart in Niagara Falls (where I live), as well as the KMart in Batavia, NY and the Kmart on Delaware Ave in Buffalo, NY are all most likely going to be closed at some point in 2012.
I am surprised it has taken this long. K-Mart has been the bottom feeder of big box retailers for a while. There is very little good to say about them. Sears hasn’t changed much over the years and that was their undoing. They have to keep up with the times to compete.
Supposedly the closing list is to be posted on the SEARS website Thursday.
I am sure this just brightened up the Holidays for Sears and Kmart employees. Great time to announce it.
http://www.msnbc.msn.com/id/45795148/
This news has really struck a cord, there are over 600 commments and counting on MSNBC. People are making some very salient statements.
Sears has been a household name for over 100 years.
What happens when a hedge fund owner takes over a company and runs it?
nothing good.
Yeah, more for those that may have missed it…the store locations should prove interesting.
Its been all over the news on CNN and the Internet. Very disappointing to read.