The company that owns Sears and Kmart announced Thursday that it will shutter 96 stores nationwide in the latest round of closures since its parent company filed for bankruptcy last year.
The company that acquired the stores after the bankruptcy, Transformco, announced it will close the stores, including 28 in California — four of which are in the Bay Area — by February 2020.
Transformco officials said in a statement:
“We have made the difficult but necessary decision to streamline our operations and close 96 Sears and Kmart stores.”
“Going out of business sales at these stores are expected to begin on December 2.”
The local closures are expected to include two Sears stores, one in San Bruno and one in San Jose, and two Kmart stores, one in Concord and one in Petaluma.
The company also announced that, as part of its effort to prune operations in the face of increased competition and “other factors,” it had acquired $250 million in new capital.
The statement said:
“Following these closures, Transformco will operate 182 stores.”
“We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy.”
Transformco spokesman Larry Constello declined further comment.
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