Cornelia store among 150 Sears-owned properties being closed nationwide
Attention K-Mart shoppers, your shopping days are numbered…at least in Habersham County. The retail chain’s parent company, Sears Holdings, announced this week it’s closing its store in the Habersham Village Shopping Center at the end of March.
According to a press release on the company’s website, 108 Kmart stores and 42 Sears stores will be closed by April. Company chairman and CEO, Edward S. Lampert issued the following statement:
“The decision to close stores is a difficult but necessary step as we take actions to strengthen the Company’s operations and fund its transformation. Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success. Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”
The closures represent 10% of Sears’ store base, according to Business Insider. It’s all part of Sears’ strategy to move away from an asset-heavy, store-based business model to a membership-focused, asset-light model.
“Going forward, Sears will be more focused on our Shop Your Way membership platform, a network with tens of millions of active members, and our Integrated Retail strategy in order to be a more nimble, innovative and relevant retailer that is better able to provide value and convenience to our customers.” Lampert says.
Liquidation sales will begin as early as January 6 at all closing stores.
The company says employees were informed of 46 store closings on December 27. They learned of the remaining closures on Wednesday.
In all, Georgia is losing four Kmarts and two Sears stores:
KMART closures
- 33 W. Montgomery Cross Road – Savannah, Georgia
- 3200 Macon Road – Columbus, Georgia
- 365 Habersham Village Circle – Cornelia, Georgia
- 1601 Highway 40 East – Kingsland, Georgia
SEARS closures
- Albany Mall – Albany, GA
- 5555 Whittlesey Boulevard – Columbus, GA
For a complete list of store closings nationwide, click here.
Sears is also selling off its popular Craftsman brand, securing additional financing through loans, and selling off properties as part of its overall strategy to increase its financial flexibility and improve long-term operating performance.
