WASHINGTON (dpa-AFX) - Struggling department store chain Sears is closing three more stores each in Maryland and New Jersey, reports said, quoting a company spokesperson.
The closures are in addition to the shuttering of 96 Sears and Kmart stores announced by Sears in November 2019.
The new store closures will occur by mid-April 2020 and liquidation sales will begin this week, the Sears spokesperson reportedly said.
In Maryland, the Sears locations in White Marsh Mall, Westfield Annapolis Mall and St. Charles Towne Centre in Waldorf will be shuttered.
In New Jersey, Sears is closing the Kmart stores in West Long Branch as well as the Sears stores in Moorestown and Woodbridge.
Sears merged with discount chain Kmart in 2005. But over the next few years, Sears closed stores, divested brands, and spun off units, after declining sales.
Sears Holding filed for Chapter 11 bankruptcy in October 2018. The chain's parent company, Transformco, acquired Sears' assets in a bankruptcy auction in February 2019, enabling the retailer to remain open for business.
However, Sears continued to close stores even after emerging from bankruptcy. In November 2019, Sears announced plans to close 96 Sears and Kmart stores.
At that time, TransformCo announced a list of the next Sears and Kmart stores it planned to close by February 2020. The company said it would operate 182 stores following those store closures and will continue to evaluate the Sears and Kmart footprint, consistent with overall retail and service strategy.
Copyright RTT News/dpa-AFX
© 2020 AFX News
