A Kmart store in Hutchinson is among 68 Kmart stores and 10 Sears stores that Sears Holding Corp. will close as it struggles to restore profitability.
The ailing company had said in February that it would accelerate the closing of unprofitable stores. The closings are expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said.
The closings follow a comprehensive review of the company’s store portfolio that took into account store performance and the timing of lease expirations.
The stores will be closed this summer, including the Kmart at 1320 E. 30th Ave. in Hutchinson. No other Kmarts or Sears stores in Kansas were on the company’s closings list Thursday.
Sears has long been struggling with a sales slump, unable to keep up with rivals like Wal-Mart.