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Published: Friday, July 07, 2017 @ 12:52 PM
By: Thomas Gnau - Staff Writer
— Sears Holding plans to close the Kmart store at 601 Woodman Drive, along with 42 other Kmart and Sears stores, the company said Friday.
This is in addition to the 265 store closings that already had been announced earlier this year.
The Woodman store is the area’s final remaining Kmart store.
In April, the retailer said the Kmart at 4480 Indian Ripple Road in Beavercreek would close this month, July.
The company in April had already announced it planned to close 42 Sears stores and 108 Kmart stores in the early months of 2017 as it struggled financially.
The latest batch of closings will bring Sears’ roster of stores to less than 1,140, down from 2,073 five years ago.
Friday’s announcement did not give closing dates for the stores. Lampert’s post said the closings were being “initiated.”
“This is part of a strategy both to address losses from unprofitable stores and to reduce the square footage of other stores because many of them are simply too big for our current needs,” Sears Chief Executive Eddie Lampert said in a blog post on the closures.
“We have fought hard for many years to return unprofitable stores to a competitive position and to preserve jobs and, as a result, we had to absorb corresponding losses in the process,” Lambert added in the blog, “SHC Speaks.” “So, it is obvious that we don’t make decisions to close stores lightly.”