Midtown Sears location closing this spring
Sears Holdings Corp. (SHLD) will be closing over 100 more stores as the struggling department store chain tries to turn around its business. The Hoffman Estates, Illinois,-based company says that includes 64 Kmart stores and 39 Sears stores that will be shuttered between early March and early April.
The Anchorage location in the 700 block of East Northern Lights Boulevard will close in early-April, while the Sears Auto Center at the same location, the Midtown Sears Mall, will shutter their doors later this month.
Liquidation sales will begin as soon as next Friday at the affected stores.
The property management company that oversees the Sears Mall released the following statement after the announcement:
We understand that Sears employees have received notifications that the Sears store in Anchorage is going to close.
Sears sales have declined dramatically in the past few years. We believe that the Sears closure is an indication that the property owner, Seritage, intends to lease the store to a new, better, retail tenant.
Sears Holdings has been selling off some its real estate and brands as it tries to raise cash.
A Sears spokesman said Thursday the number of workers affected by the latest closures was not available. The majority of the jobs are part-time positions, Sears said.
The move comes in addition to closing about 250 stores announced last year.
Sears and Kmart have been losing billions of dollars and closing stores for years. Meantime, Sears Holdings hasn't turned a profit since 2010 and warned last year there was "substantial doubt" that it will be able to stay in business.
By the end of July 2017, Sears Holdings had only 1,250 stores left in the United States, down from 3,400 at the start of 2006.
Earlier Thursday, Macy's Inc. announced it was closing 11 stores early this year.
Copyright 2018 KTVA. All rights reserved. CBS Interactive Inc. and The Associated Press contributed to this report.
Editor's Note: Sears Holdings initially reported the location in the 5900 block of Old Seward Highway was closing. Friday, the list of location closures had been updated to reflect the Northern Lights location as the affected store, and the Old Seward Highway location was no longer listed.
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