May 25, 2022 - Economy

More than 70 Sears stores to close across country

Store closing liquidation signs

Hundreds of Sears stores have closed over the years and more than 70 Sears Hometown stores are currently slated to be liquidated. Photo: Getty Images

Dozens of Sears Hometown stores are closing and holding liquidation sales, according to Facebook posts from the shuttering locations.

Why it matters: Sears and Kmart have closed thousands of stores and cut around 250,000 jobs over the last 17 years.

  • The two iconic retailers were owned by Sears Holding, which filed for Chapter 11 bankruptcy protection in 2018 and escaped liquidation when Eddie Lampert's Transformco acquired them out of bankruptcy.
  • Transformco also acquired Sears Hometown stores in 2019.
  • Sears Hometown was touted in a November 2019 news release as a "network of more than 400 independently-owned and operated, dealer-managed smaller-format stores" selling "a range of home products, including appliances, lawn & garden, tools and sporting goods."

What's happening: Transformco did not provide a list of the closing locations or how many will remain, but stores around the country posted announcements on their Facebook pages, viewed by Axios. An unverified list was also posted on the message board

  • The store closing or liquidation sales will vary in length and discounts, according to the social media posts.
  • Transformco did not respond to Axios' request for comment.
  • As of April 2022, there were three remaining Kmart stores in the continental U.S.

What they're saying: "Very sad to announce but our Sears hometown store at 126 Buchanan street N in Cambridge MN is closing. Everything on the floor must go!!," the store in Cambridge, Minnesota, posted on its Facebook page.

  • "This is your last chance to save! Check out our Store Closing Liquidation event in-store at select locations only through 6/27," the Sears Hometown store in Kilmarnock, Virginia, posted to its Facebook page.
  • "Unfortunately we must announce the closing of our Sears Hometown Store. It is not a decision that we have made lightly. We have loved all of our time that we have been able to spend with you over these last 10 years. Our last day that we are open is June 23, 2022," the store in Luling, Louisiana, posted on Facebook.

Of note: Store locator websites for Sears and Kmart were not accurate as of Wednesday and listed locations that previously closed.

  • Sears Hometown shoppers are advised to check Facebook pages or call stores to confirm they are still open.
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