Sears closing over 100 stores, including Hanford

Sears closing over 100 stores, including Hanford

Kerry Wise
January 7, 2018

In its most recent quarter, Sears Holdings said comparable sales fell 17 percent at its namesake stores and 13 percent at Kmart.

The Sears at 693 Stillwater Ave.in Bangor, the only store in ME on the list, is scheduled for closure in early April.

Liquidation sales will begin as early as January 12 at the stores slated for closure, the release said.

At time of writing, it appeared that all employees of the Portland location would be affected by the closure, with no announced plans to the contrary.

In total, 39 Sears and 64 Kmart stores will close. The store was independently owned but carried Sears brands.

The Centerville Sears is closing its automotive center in late February.

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Two local Kmart stores are set to close in early April, their parent company Sears announced Thursday.

Sears stock closed at $3.58, down 18 cents or 4.79%, on Thursday.

The majority of jobs lost to the closures are part-time positions, according to Sears Holdings. Red Oak's Kmart is the only store in KMAland impacted by the closings.

"Kmart's business model has not probably adapted to fulfill the opportunities that lay underneath its umbrella", said the mayor.

Macy's announced in August it was closing 100 stores, with the remaining 11 stores closing in the first quarter of this year. Overall sales across the USA grew by 4.9 percent from November 1 to December 24.