The additional stores that will be closing this year include 16 Sears stores, 49 Kmart stores, and seven auto centers. Most of them will close in September 2017, reports Business Insider.
This most recent round of closures will bring Sears’ stores still open down to about 1,200, compared to the 3,400 U.S. stores just over 10 years ago, reports WTVR Richmond. As a matter of fact, Richmond’s Regency Square Sears and its Auto Center are on the list, while the Glen Allen and Chesterfield locations will remain open.
On January 4, Sears Holdings announced the closure of dozens of additional Kmart and Sears locations. Then, in a regulatory filing March 21, Sears, which has been one of America’s leading retail stores since the 19th century, said there is “substantial doubt” it can remain in business, leading to speculation that more closing could be possible.
Sears and Kmart have a proud history in the United States that dates back to the 19th century. Sears at one time was the nation’s largest retailer and business employer, and the Sears catalog was a staple in most households where Americans learned to shop from home for everything from clothing to homes. Yes, this journalist lived right next door to a Sears home.
And by the end of WWII, Sears had developed an extensive network of retail stores that at one time even included a bank, a brokerage, and a real estate company. They became so prolific, like Wal-Mart today, they were the bane of small, local businesses.
Kmart can proudly lay claim to being one of the nation’s first major discount chains. Many of us can remember the ‘Blue Light Specials,” spur of the moment in-store sales followed by an announcement over the store’s PA system. Kmart bought a number of other retail chains, including Borders Books and Sports Authority.
In 2002, Kmart filed for bankruptcy before being picked up by Sears Holdings. However, Sears’ problems started a long time before the growth of online shopping. About 20 years ago, big-box stores like Home Depot, Wal-Mart and others began dotting the retail landscape, and the competition was huge, so much so that Sears lost its place on the Dow Jones Index in 1999.
For a complete listing of the additional 72 stores just announced, you can go to Business Insider.
