Liquidation sale of west-side Kmart store could start Friday

The west Wichita Kmart store, at 4200 W. Kellogg, will close in March and a liquidation sale could begin as soon as Friday, according to the company.

The store’s owner, Sears Holdings, announced Wednesday the closing of 78 Kmart and 26 Sears stores.

The long-troubled company also announced the closing of 46 Kmart and 16 Sears stores on Dec. 27.

In a statement, the company said Wednesday that the closings are necessary to leave the company stronger. It also said it got approval of a $500 million loan to help fund the company while it sells off some of its real estate to pay down debt.

“Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around,” the statement said. “But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success.”

Eligible store workers will receive severance and the opportunity to apply for open positions at area Kmart or Sears stores.

Other Kansas locations affected by the closings include a Sears in Salina and a Kmart in Leavenworth.

This story was originally published January 4, 2017 at 4:29 PM with the headline "Liquidation sale of west-side Kmart store could start Friday."