Paducah Kmart store closing in early April

  • Paducah Kmart store closing in early April

Paducah Kmart store closing in early April

The struggling retailer told employees on Thursday that 64 Kmarts and 39 Sears stores will be closing sometime between early March and early April. The department store opened in Prices Corner in 1963. According to Business Insider, the current round of closings will leave less than 940 Sears stores, compared to 3,510 locations six years ago.

The closures in Springfield and Portland will leave four Sears in OR, with the closest to Lane County in Salem. Some employees will be eligible for severance pay.

As the rise of e-commerce spearheaded by Amazon and Walmart continues, businesses like Sears Holdings aren't keeping up.

The move means Kmart will have three Louisiana stores: 7000 Veterans Blvd. and 2940 Veterans Metairie and in Lake Charles.

The trend is one that's continuing for Sears.

Sears closed in Macon Mall in 2011. Now, that number is closer to 1,000. The company said liquidation sales would begin as early as January 12. Sears leases the almost 200,000-square-foot store from Seritage Growth Properties, a real estate investment trust spun off from Sears in 2015. At the time, Sears was expected to remain open in the renovated store's lower level.

But analysts have been saying it's likely too late.

The company said the closures are part of a plan to figure out the right amount of storefront locations. Macy's and J.C. Penney have also been shuttering hundreds of stores.

Business Insider reports the company's sales are down 45% since early 2013.

Sue Gill, 58, of Beachwood, N.J., about a mile from Toms River, said she will miss the Sears there, where she shops at least once a month. "Sears stood for reliability and dependability". "A lot of people do online shopping nowadays".