Transform Holdco, the company formed in January to buy the remaining assets of bankrupt retailer Sears Holdings Corp., said it will begin "liquidation sales" next week in 26 stores that will close in late October.
format closures include 21 Sears stores in 15 states and 5 Kmart stores in 3 states and Puerto Rico.
“After carefully reviewing where we are today, we believe the right course for the company is to accelerate the expansion of smaller store formats that include opening more Home and Life stores and adding hundreds of Sears Hometown stores after The Sears Hometown and Outlet transaction is closed, Transform Holdco said in a statement. "Following these steps, we will continue to evaluate our network of Sears and Kmart stores and cannot exclude further store closures in the near term."
Transform Holdco had made an offer to purchase the entire Sears Hometown & Outlet Store stock that was not already owned by former Sears CEO Eddie Lampertsbierg hedge fund, ESL Investments Inc. and its affiliates.
Shares of Sears
SHLDQ, -3.02% ,
who filed for bankruptcy in October 2018, have fallen 36.6% so far today through Thursday and 68.2% over the past 12 months. In comparison, SPDR S&P Retail is a listed fund
has gained 0.3% this year and the S&P 500 index
has advanced 17.2%.
Here are the stores that are closing:
|Kmart||1625 W. Redlands||Redlands||California|
|Kmart  14011 Palm Dr.||Desert Hot Springs||California|
|Kmart||159 Wilbraham Rd.||Palmer||Massachusetts|
|Kmart||] 975 Fairmount Ave.||Jamestown||New York|
|Kmart||Puerto Rico Hwy 3 Plaza Guayama||Guayama||Puerto Rico|
|Sears *||2500 Riverchase Galleria||Birmingham||Alabama|
|Sears *||Somersville Rd.||Antioch||California|
|Sears *||8501 W. Bowles Ave.||Littleton||Colorado|
|Sears *||6200 20th St.||Vero Beach||Florida|
|Sears *||901 US 27N||Sebring||Florida  Sears *||3700 A tlanta Hwy Ste 270||Athens||Georgia|
|Sears *||5 Stratford Square||Bloomingdale||Illinois|
|Sears *||2300 Southlake Mall||Merrillville||Indiana|
|Sears *||6501 Grape Rd. U.S. 23||Mishawaka||Indiana|
|Sears *||6901 Security Sq. Blvd.||Baltimore||Maryland|
|Sears *||6780 S. Westnedge Ave.||Portage||Michigan|
|Sears *||4900 Fashion Square Mall||Saginaw  Michigan|
|Sears *||18777 E. 39th St. S||Independence||Missouri|
|Sears *||3 Mid Rivers Mall Drive||St. Peters||Missouri|
|Sears||330 Siemers Dr.||Cape Girardeau||Missouri|
|Sears *||600 Richland Mall||Mansfield||Ohio|
|Sears *  1101 Melbourne Rd.||Hurst||Texas|
|Sears *||10000 Emmet F. Lowry Expy||Texas City||Texas|
|Sears *||4812 Valley View Blvd NE||Roanoke  Virginia|
|Sears *||4700 N. Division St.||Spokane||Washington|
|Sears *||100 Huntington Mall Rd.||Barboursville||West Virginia|
|* Sears Auto Centers in these stores will close in late August|