The new year is a time for transformation, whether that means sticking to your weight loss resolutions or pledging to eat healthier. But for Sears Holdings, the company that owns retail giants Kmart and Sears, the new year brings plans to shutter 150 stores in 40 states this spring.
Included in that 150 is the very first Kmart store, which opened in Garden City, MI, a neighborhood in Detroit, in 1962.
Some stores will close as early as Jan. 6, but most stores will go dark by the end of March 2017.
In a statement, Sears Holdings said the reason for the stores closing was financial. However, they assure "eligible associates" that they will "receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.
These latest developments come on the heels of recent shutdowns; last spring they made similar plans to close 68 Kmart and 10 Sears locations over the summer. According to Fortune, Sears' sales have been on the decline for years, mainly because Sears and Kmart haven't been able to keep up with their competitors.
However, Sears and Kmart are not the only chains to announce they will be shutting down stores this year. Macy's also released a statement saying they plan to close 68 stores, resulting in layoffs for more than 10,000 workers. Last year, Macy's made headlines after they reported they would close 36 stores.
While we're certainly sad to see these stores go, especially because their closure means hundreds of employees will potentially lose their job, the inevitable sales may be hard to pass up, even for those who made a pact to spend less and save more this year.
Here are the stores, listed by state, that will be closing this year:
(*) Sears Auto Center will be closed at this location
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