Kmart, Macy’s, Sears stores closing details: One store in R.I., five in Mass.

MACY'S IS CLOSING 68 STORES AROUND the country, but Rhode Island stores will be spared. Locally, Macy's stores in the Westgate Mall in Brockton, Mass., and Silver City Galleria in Taunton, Mass., will close. / BLOOMBERG NEWS PHOTO/GEORGE FREY
MACY'S IS CLOSING 68 STORES AROUND the country, but Rhode Island stores will be spared. Locally, Macy's stores in the Westgate Mall in Brockton, Mass., and Silver City Galleria in Taunton, Mass., will close. / BLOOMBERG NEWS PHOTO/GEORGE FREY

The new year is bringing news of retail store closings.

Kmart, Macy’s and Sears announced closings this week. Eight stores will close in Connecticut, Massachusetts and Rhode Island.

They are:

  • Kmart, 45 Shunpike Road, Cromwell, Conn.
  • Kmart, 9 Plaza Way, Fairhaven, Mass.
  • Kmart, 1130 Newport Ave., South Attleboro, Mass.
  • Macy’s, Westgate Mall, Brockton, Mass.
  • Macy’s, Silver City Galleria, Taunton, Mass.
  • Sears, Enfield Square Mall, Enfield, Conn.
  • Sears, 262 Swansea Mall Drive, Swansea, Mass.
  • Sears, 1500 Diamond Hill Road, Woonsocket

Liquidation sales are beginning Jan. 6 at the Kmart and Sears stores, which are owned by the same company, Sears Holding Corp. in Hoffman Estates, Ill. Kmart and Sears stores are expected to close at the end of March, except the Cromwell store, which closes in mid-March.

- Advertisement -

Sears Holding Corp., in a news release, said 150 non-profitable stores are closing nationwide – 109 Kmart stores, and 41 Sears stores. The company is also selling its Craftsman tool brand to Stanley Black & Decker Inc. for about $900 million, Bloomberg News reported.

“The decision to close stores is a difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation. Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better-performing stores a chance at success,” Edward S. Lampert, chairman and CEO of Sears Holdings, said in a statement.

An exact number of Kmart and Sears employees affected by the closings was not immediately available.

Macy’s Inc., which is based in Cincinnati, said 79 associates are employed in Brockton, and 82 in Taunton. Macy’s said the local store closings are part of a total of 68 nationwide; most stores are expected to shutter in early spring.

The company said it intends to close approximately 30 more stores over the next few years as leases or operating covenants expire or sale transactions are completed.

Macy’s said associates displaced by store closings may be offered positions in nearby stores. Eligible employees also will be offered severance benefits. The company estimates that 3,900 associates will be displaced due to the closures.

“As we’ve noted, it is essential that we maintain a healthy portfolio of the right stores in the right places. Our plan to close approximately 100 stores over the next few years is an important part of our strategy to help us right-size our physical footprint as we expand our digital reach. We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate,” Terry J. Lundgren, chairman and CEO of Macy’s, said. “These are never easy decisions.”

No posts to display