LUFKIN, TX (KTRE) - Sears Holdings announced Wednesday that Lufkin's Kmart store will be among the 100-plus Kmart and Sears store locations nationwide that will be closing this spring.
"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," a press release stated.
According to the press release, the company notified employees at 30 Kmart stores and 16 Sears stores that their stores would be closing in the spring. On Wednesday, the company told employees at 78 additional Kmart stores and 26 Sears that they would also be closing this spring.
"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," the press release stated. "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 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."
Employees affected by the store closures will receive severance, and they will have the opportunity to apply for open positions at area Kmart or Sears stores.
The Lufkin Kmart will be among the four Texas stores that will be closing in the spring. Other Kmart stores that will be closing are located in El Paso and Killeen. The company will also be closing a Sears store located in Odessa.
"Customers can use the store locator function on our websites to find the location of their nearest Kmart and Sears stores," the press release stated. "Liquidation sales will begin as early as January 6 at all closing stores."