The Sears store at 754 S. State St. in Salt Lake City is one of 18 stores across the nation that have fallen victim to the latest round of store closings by Sears Holdings, the parent company of Sears and Kmart stores. The Sears Auto Center at the location will close in early December and the store itself will close in late January.
Forty-five Kmart stores will also close as part of this round of closures, Sears Holdings said.
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“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,” a company spokesperson said. “It’s important to note that these stores will remain open to serve members during the holiday season.”
Sears and Kmart have been losing billions of dollars and closing stores for years. Sears Holdings hasn’t turned a profit since 2010 and warned earlier this year there was “substantial doubt” that it will be able to stay in business.
By the end of this July, Sears Holdings had only 1,250 stores left in the United States, down from 3,400 at the start of 2006.
Salt Lake City store employees were informed of the closing last week and liquidations sales have begun. {/mprestriction}
