Another iconic superstore has announced that it will be closing all but 16 of its remaining locations in the coming months. Two years after being purchased out of bankruptcy along with Sears, Kmart continues to shrink its once-large footprint by closing down even more locations. The company is keeping up with a list of sweeping closures that were announced in late 2019, leaving only 16 locations of the superstore remaining following liquidation sales set to take place through November, USA Today reported.
The shuttering of even more Kmart locations comes as parent company Transformco continues its plan to salvage the two retail giants. As part of the process, the company will also be closing all but 19 of the remaining Sears department stores after a similar round of liquidation. The decline shows a significant change from the start of 2010, when Sears had more than 3,900 stores. Nearly a decade later, the number had shrunk to 489 by the beginning of 2019. Numbers dwindled even further by the end of January 2021, when there were just 36 Sears department stores left in operation. During the same time period, Kmart had dropped from 360 in 2019 to 30 in 2021, according to Forbes.
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