Alton, Granite City Kmarts set to close
Two Metro East Kmart stores are destined to shutter their doors following parent company Sears’ recent decision to close 108 Kmart venues and 42 Sears outlets nationwide by mid-spring, according to Business Insider.
Located at 2851 Belt Line Parkway, Alton, and 3655 Nameoki Road, Granite City, respectively, the sites will close at the end of March. The pair will join scores of other branches slated for closure, representing approximately 10 percent of Sears’ total facilities, Business Insider stated.
Sears Holdings, based in Hoffman Estates, made the announcement via its corporate website.
“Sears Holdings will continue to strategically and aggressively evaluate our store space and productivity, and accelerate the closing of some unprofitable stores as the company has previously announced,” according to the company’s statement.
Sears and Kmart have been fixtures on the American retail landscape for decades. Sears Holdings Chairman and CEO Edward Lampert acknowledged the challenges presented to employees, reminding workers that those affected by store closings will not only receive severance, but also have the chance to apply for openings at continuing Sears and Kmart operations.
“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,” Lampert said. “Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in hopes that they would turn around. But in order to meet our objective of profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success.”
The company added that “liquidation sales will begin as early as Jan. 6 at all closing stores.”