Published: Sat, November 09, 2019
Economy | By

Kmart in Kenosha to close January of 2020

Kmart in Kenosha to close January of 2020

The closures will leave the company with 182 Kmart and Sears stores across the country.

Sears Holdings Corporation was purchased by Transformco in February 2019.

A going-out-of-business sale is scheduled to begin December 2 at the West Orange store. Other locations in the region to close include the KMart stores in Berwick and Wilkes-Barre.

The company announced on Thursday, Nov. 7, the "difficult but necessary decision to streamline" operations by closing 96 Sears and Kmart stores, including a Kmart in Waterford and a Sears in Lansing.

The company has faced "a hard retail environment and other challenges" since the acquisition, according to a notice it released. "To support these initiatives, our owners - along with a third-party investor - have recently provided the company approximately $250 million in new capital".

Transform Holdco LLC, which is owned by ESL Investments, a hedge fund owned by former Sears owner Eddie Lampert, took over Sears and KMart earlier in the year after the retailers exited bankruptcy proceedings. The company said it expects "to realize a significant return on our extensive portfolio of owned and leased real estate".

The Valley has a Sears Auto Center in Walnutport with a Kmart, according to an online store locator.

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