Photo by Hubble Ray Smith.
KINGMAN – Sears Holdings Corp. chairman and chief executive officer Eddie Lampert announced today that an “additional eight Sears and 35 Kmart unprofitable stores,” including the Kmart located at 3340 E. Andy Devine Ave., will begin the process of shutting its doors.
“This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores,” Lampert wrote on his “Transformation Update” blog at www.searsholdings.com. “We have fought hard for many years to return unprofitable stores to a competitive position and to preserve jobs and, as a result, we had to absorb corresponding losses in the process.”
Associates at the Kingman Kmart location and the other stores have been notified that their stores will be closing by early October.
“Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart and Sears stores,” the announcement read.
Liquidation sales will begin as early as July 13.
A Kmart in Phoenix and one in Las Vegas were also on the additional store closing list. Sears has closed more than 300 stores this year.