Going-out-of-business sales will begin at most affected locations on December 2, with closings expected by February.More news: Apple's new privacy pages are easier to read and look way better
Sears Holdings Corporation was purchased by Transformco in February 2019.
In the latest round of closures, Transformco is set to shutter 45 Kmart stores and 51 Sears locations in February, including the Sears store in Santa Maria. Following these closings, Transformco will run 182 stores. The retailer of kitchen utensils and appliances plans to close all 160 of its stores by the end of the year. In January, three Michigan Kmart closures were announced.More news: Denver Veterans Day Restaurant Deals
Kmart is shutting down its last two stores in southeast MI in Warren and Waterford Township. "To support these initiatives, our owners - along with a third-party investor - have recently provided the company approximately $250 million in new capital".
"We will endeavor to create and deliver value through a strategic combination of our better-performing retail stores and our service businesses, brands and other assets, and expect to realize a significant return on our extensive portfolio of owned and leased real estate", the statement says.More news: Redmi Note 8 Pro Deep Sea Blue Colour Variant Launched: Price, Specifications