Sears Holding Corp., parent company of Kmart and Sears, has added eight more stores to the list of ones that will be closing and, again the company's local retail businesses are not included.
On June 26, eight Kmart stores were added to the list of more than 100 Sears Holdings Corp businesses that will be closing. On Dec. 27, 2011, company officials first announced that 100 to 120 stores in the United States and Canada would be shut to trim costs after a poor holiday shopping season.
The initial list, which was released in January, had 81 stores listed, but didn't include the Kmart located along Fairmount Avenue or the Sears in the Chautauqua Mall. On Feb. 23, the closing list was expanded by 15 stores. Again, neither local business was included on the list.
The Warren, Pa., Kmart also wasn't on the list of stores that will be closing. No Kmart or Sears in the state of New York has been included on any of the lists.
Company officials in December said they expect the store closures to generate $140 to $170 million in cash as the net inventory in the stores is sold. They also expect to generate additional cash proceeds from the sale or sublease of the related real estate.
Sears officials said in addition to the specific store closures, they will carefully evaluate store performance going forward and act opportunistically to recognize value from poor-performing stores as circumstances allow.
The list of stores closing is posted at www.searsmedia.com.