Sears, Kmart to Close 72 More Unprofitable Stores [VIDEO]
* * UPDATE * * 3 pm, Thursday, May 31, 2018
Sears Holdings has announced that it will close four Sears stores in Michigan, including the Genesee Valley Center location in Flint Township.
Other Michigan stores include:
- 8900 Michigan Avenue Dearborn MI
- 14100 Lakeside Circle Sterling Heights MI
- 1212 S Airport Road W Traverse City MI
Sears Holdings, the parent company of Sears and Kmart, says it plans to close an additional 72 underperforming stores in the not-so-distant future.
According to USA Today, the company has shuttered 530 struggling stores in the last year. The latest round of closings represents about 8% of its remaining retail stores.
There has been no announcement regarding the Sears store at Genesee Valley Center in Flint Township.
The company is expected to reveal the list of stores it plans to close later today. We'll update that list here when it's available.
The company cites declining mall traffic, heightened online competition and strategic missteps for its sales decline in sales.