Kmart To Close Another 64 Stores; Liquidation Sales Begin Thursday

NEW YORK (CBS/AP) — A person familiar with the matter says Kmart is closing 64 stores by mid-December as the ailing company looks for more ways to generate cash.

The liquidation sales start Thursday, says the person, who spoke on condition of anonymity because the decision isn’t yet being disclosed publicly.

Kmart hasn’t put out an official list of which stores will be closed yet. But according to a report from Business Insider, the only Massachusetts Kmart closing its doors is in Great Barrington.

The closures are in addition to the announcement in April by parent Sears Holdings Corp. that it would close 68 Kmart stores this year. At that time, it said it would also close 10 Sears locations.

As of Jan. 30, Kmart operated 941 stores, so Sears will have closed 14 percent of its locations under that banner this year.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Boston

WheelMobile
Download Our App

Listen Live