On January 4, 2018, Sears Holding Corporation released a statement on its website: “Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size. In the process, as previously announced we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members.” The Company, on Thursday, January 4th, informed associates at 64 Kmart stores and 39 Sears stores that they will be closing these stores between early March and early April 2018. “Eligible associates impacted by these store closures will receive severance….Liquidation sales will begin as early as January 12 at these closing stores.” Read more on distressed companies.
About Kerry Mastroianni
Kerry Mastroianni, the editor of The Distressed Company Alert, has been researching distressed and bankrupt companies for over 18 years. As a 10-year employee of New Generation Research, she is also a data editor for Bankruptcy Week and the editor for our annual Bankruptcy Yearbook & Almanac. Prior to Kerry’s employment at NGR, she worked for eight years as a research analyst for KPMG’s corporate recovery practice.