Sears Holding announces store closure locations - Lewiston included | Business
Sears Holding is implementing big changes to reduce on-going expenses after a low performance year for 2011. The company announced Tuesday they would be closing about 100 to 120 Kmart and Sears Full-line stores to generate an extra $140 to $170 million in store sales or sublease of their real estate.
Lewiston’s Sears is on the list of planned closures. It’s one of two hardline stores on the cuts - the other one is in Middlesboro, Kentucky. 79 multiple formatted stores are being affected including Sears Grand/Essentials, Full-Line and dozens of Kmarts that filled up the majority of the list.
The Lewiston Kmart did not make the list of expected closures and will remain open.
Past practices by the company meant keeping marginally performing stores open and working to improve that performance, but this week’s quarterly update from the company recognizes that practice is no longer an option.
The store closures across the nation will reduce the fixed costs for Sears Holding by $100 to $200 million. A closure date has not been released by Sears Holding nor has the number of impacted employees at that store.
Once the Lewiston Sears closes, the nearest store will be either Moscow, Coeur d’Alene or Boise. Regionally, the Sears in Walla Walla, Washington also made the closure list.
Online Documents: Sears Holding Announces Store Closure Locations