- An internal Sears document reveals how store managers were instructed to inform employees of upcoming closures and layoffs.
- The document contains a script for managers to read to employees during a staff meeting.
- "The decision has been made to close our store," reads the script, which was shared with store managers this week. "I can assure you that this decision is taken as very serious. However, after exhaustive discussions and weighting of all the options, this store will begin the winding-up process shortly."
- Sears announced on Thursday that it plans to close 96 Sears and Kmart stores by February.
- Visit the Business Insiders homepage for more stories.
An internal Sears document reveals how the company broke news to employees about an upcoming round of 96 store closures and layoffs.
The document contains a script for managers to read to employees during a staff meeting.
"Transformco has faced challenges since acquiring substantially all of Sears Holdings Corporation's assets in February," the script instructs executives to say according to a copy of the document reviewed by Business Insider. "Unfortunately, these challenges have affected performance and limited the company's strategic choices.
" This brings me to a very tough conversation. The decision has been made to close our shop. I can assure you that this decision is taken as very serious. However, after exhaustive discussions and weighting of all the options, this store will start the liquidation process shortly. "
The script explains the liquidation process: a consultant will arrive in the store in mid-November, a pre-sale will begin on November 1[ads1]7, and liquidation will begin on December 2. The store will remain open until February 2020, the script states.
"Our goal is open and honest communication," the script states. Over the next two weeks, a market or regional representative will come to our store to address our closing specifications and to answer any questions you may have. In addition, the market or regional representative will hand out a written notice to each of you informing you of the store's closure. You will be asked to sign this notice indicating that you have been notified.
"I want to thank you or all your dedicated service in this store and express our gratitude for all your contributions. At this time, I will open the floor for questions."
When Transform Holdco bought Sears out of bankruptcy in February, the company had about 400 Sears and Kmart stores. After the last round of store closures is completed, the company will have 182 stores in operation.
In a statement on Thursday, Transformco said that the company "has faced a difficult retail environment and other challenges" and that it was "pruning operations that have struggled due to increased competition and other factors."
Read the full script below:
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