Sears Holdings closing more stores including Morristown Kmart

MORRISTOWN, Tenn. (WATE) – Sears, the one-time standard bearer for U.S. retail, has posted quarterly losses for more than a year now, and sales continue to slide as the company shutters poorly performing stores.

Wednesday, Sears Holdings announced they are closing 26 Sears and 78 Kmart stores in spring 2017. They said most stores will close at the end of March.

The closures include the Morristown Kmart, located at 305 W. Economy Road. Kmart Holdings said liquidation sales will start as early as January 6 at all closing stores.

“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. 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 that 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. Eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.”

Sears Holdings closed stores in Oak Ridge, North Knoxville, Maryville, Athens, Sweetwater, Cleveland, Clarksville and Memphis in 2016.

The company’s cash situation, which has led in the past to clashes with suppliers, is an ongoing concern. Sears announced on January 4 they were borrowing $500 million from CEO Eddie Lampert’s hedge fund as the company struggles to stay afloat.

Despite the cash grab and effort to close underperforming stores, Moody’s estimates that Sears will need to raise about $1.5 billion to survive the year. Fitch, on the other hand, predicted in September that Sears will likely file for Chapter 11 bankruptcy within one to two years. At issue are some $2.8 billion in high-yield bonds and institutional term loans that will come due in the next few years.

Related: The tragic death of Kmart?

Customers with layaway contracts

Customers with layaway contracts at the store have a couple of options, according to Howard Riefs, Director of Corporate Communications with Sears Holdings. Riefs said they can:

1. Pay off their contract early
2. Transfer their layaway contract to a neighboring store or online

Riefs said transferring contracts, requires canceling a contract and re-creating it. He said the process can be initiated by customers and done by an associate in-store.

1. Kmart, 3600 Wilson Road, Bakersfield, CA
2. Kmart, 25 West Polk Street, Coalinga, CA
3. Kmart, 333 Sierra Street, Kingsburg, CA
4. Kmart, 363 S Broadway, Denver, CO
5. Kmart 2809, North Ave, Grand Junction, CO
6. Kmart, 45 Shunpike Road, Cromwell, CT (Closing mid-March)
7. Kmart, 3200 Macon Road, Columbus, GA
8. Kmart, 365 Habersham Village Circle, Cornelia, GA
9. Kmart, 1601 Highway 40 East, Kingsland, GA
10. Kmart, 2600 Dodge Street, Dubuque, IA
11. Kmart, 5700 Gordon Drive, Sioux City, IA
12. Kmart, 3810 University Avenue, Waterloo, IA
13. Kmart, 2851 Belt Line Parkway, Alton, IL
14. Kmart, 3655 Nameoki Road, Granite City, IL
15. Kmart, 750 Indian Boundary Road, Chesterton, IN
16. Kmart, 1460 West State Road, 2 La Porte, IN
17. Kmart, 4820 S 4th St Trafficway, Leavenworth, KS
18. Kmart, 4200 W Kellogg Dr, Wichita, KS
19. Kmart, 115 South Airline Hwy, Gonzales, LA
20. Kmart, 1400 S Clearview Parkway, New Orleans, LA
21. Kmart, 29600 Ford Road, Garden City, MI
22. Kmart, 3555 O’Neill Drive, Jackson, MI
23. Kmart, 1396 South Main Street, Adrian, MI
24. Kmart, 5400 S Cedar Street, Lansing, MI
25. Kmart, 1501 E Apple Ave, Muskegon, MI
26. Kmart, 40855 Ann Arbor Road, Plymouth, MI
27. Kmart, 17580 Frazho Road, Roseville, MI
28. Kmart, 3541 Highland Road, Waterford, MI
29. Kmart, 165 Wayne Road, Westland, MI
30. Kmart, 6455 US 31 N Acme, Township, MI
31. Kmart, 1305 Highway 10 West, Detroit Lakes, MN
32. Kmart, 1477 State Highway 248, Branson, MO
33. Kmart, 2304 Missouri Blvd, Jefferson City, MO
34. Kmart, 1003 S Bishop Ave, Rolla, MO
35. Kmart, 3101 S Glenstone Ave, Springfield, MO
36. Kmart, 6650 Manchester Ave, St Louis, MO
37. Kmart 545 US Hwy 29, North Concord, NC
38. Kmart, 1931 Skibo Road, Fayetteville, NC
39. Kmart, 201 N Berkeley Blvd, Goldsboro, NC
40. Kmart, 102 New Market, Madison, NC
41. Kmart, 815 S College Road, Wilmington, NC
42. Kmart, 1468 Clementon Road, Clementon, NJ
43. Kmart, 645 Highway 18 East, Brunswick, NJ
44. Kmart, 800 Black Horse Pike, Pleasantville, NJ
45. Kmart, Rte 9 & Rte 47, Rio Grande, NJ
46. Kmart, 10405 S Eastern Ave, Henderson, NV
47. Kmart, 1500 Coshocton Ave, Mount Vernon, OH
48. Kmart, 185 Upper River Road, Gallipolis, OH
49. Kmart, 1005 East Columbus St, Kenton, OH
50. Kmart, 225 West Avenue, New Boston, OH
51. Kmart, 1284 Brice Road, Reynoldsburg, OH
52. Kmart, I-70 & Mall Road St., Clairsville, OH
53. Kmart, 3515 N Maple Avenue, Zanesville, OH
54. Kmart, 4 East Shawnee St, Muskogee, OK
55. Kmart, 5820 Shaffer Road, Dubois, PA
56. Kmart, 1320 E Grandview Blvd, Erie, PA
57. Kmart, 1890 Fruitville Pike, Lancaster, PA
58. Kmart, 5600 Carlisle Pike US 11, Mechanicsburg, PA (Closing mid-February)
59. Kmart, 120 Mall Blvd Monroeville, PA
60. Kmart, 100 Cross Roads Plz Mt., Pleasant, PA
61. Kmart, 3801 B Clemson Blvd, Anderson, SC
62. Kmart, 254 Highway 72 By-Pass, Greenwood, SC
63. Kmart, 8571 Rivers Avenue, North Charleston, SC
64. Kmart, 3020 W 12th, St Sioux Falls, SD
65. Kmart, 305 W Economy Road, Morristown, TN
66. Kmart, 1120 Mc Rae Blvd El Paso TX
67. Kmart, 9484 Dyer St, El Paso, TX
68. Kmart, 1101 Fort Hood Street, Killeen, TX
69. Kmart, 3061 S John Redditt Dr, Lufkin, TX
70. Kmart, 1153 W Highway 40, Vernal, UT
71. Kmart, 2010 N Main St, Layton, UT
72. Kmart, 1419 Hershberger Road N W, Roanoke, VA
73. Kmart, 3655 Plank Road, Fredericksburg, VA
74. Kmart, 6101 N Military Hwy, Norfolk, VA
75. Kmart, 1355 West Main Street, Salem, VA
76. Kmart, 1425 E Highway 151 Platteville, WI
77. Kmart, 2211 S Green Bay Road, Racine, WI
78. Kmart, 1840 Dell Range Blvd, Cheyenne, WY
79. Sears*, Albany Mall, Albany, GA
80. Sears, 5555 Whittlesey Blvd, Columbus, GA
81. Sears, 1235 S Reed Road, Kokomo, IN
82. Sears, 2259 S 9th St, Salina, KS
83. Sears*, 9001 Cortana Mall Baton Rouge / Cortana, LA
84. Sears*, 197 Westbank Expressway, Gretna, LA
85. Sears*, 3099 28th St SE, Grand Rapids, MI
86. Sears*, 12737 Riverdale Blvd NW, Coon Rapids, MN
87. Sears*, 1850 Adams St, Mankato, MN
88. Sears*, 3600 Country Club Dr, Jefferson Cty, MO
89. Sears 3702, Frederick Ave, Saint Joseph, MO
90. Sears*, 3902 13th Ave, South Fargo, ND
91. Sears, 1000 S Main St, Roswell, NM
92. Sears*, 2000 Brittain Road, Akron, OH
93. Sears*, 1075 N Bridge St, Chillicothe, OH
94. Sears*, 1701 River Valley Circle S, Lancaster, OH
95. Sears*, Richmond Mall, Richmond Hts, OH
96. Sears, 428 SW C Ave, Lawton, OK
97. Sears*, 1 Susquehanna Valley Mall Dr, Selinsgrove, PA
98. Sears* 1500 Mall Run Road, Uniontown, PA
99. Sears*, 3595 Capital City Mall, Camp Hill, PA (Closing mid-February)
100. Sears*, 1500 Diamond Hill Road, Woonsocket, RI
101. Sears*, 2701 David H Mcleod Blvd, Florence, SC (Closing mid-February)
102. Sears*, 2101 Fort Henry Dr, Kingsport, TN
103. Sears* 4101 E 42nd St, Odessa, TX
104. Sears*, 500 Gate City Hwy, Bristol, VA

Announced 12/27/2016

105. Kmart, 300 Highway 78 E, Jasper, AL
106. Kmart, 2003 US Hwy 280 Bypass, Phenix City, AL
107. Kmart, 3001 Iowa Avenue, Riverside, CA
108. Kmart, 501 N Beneva Road, Sarasota, FL
109. Kmart, 1801 Northwest Hwy 19, Crystal River, FL
110. Kmart, 15271 Mcgregor Blvd, Fort Myers, FL
111. Kmart, 2111 S Federal Hwy, Fort Pierce, FL
112. Kmart, 1501 Normandy Village, Jacksonville, FL
113. Kmart, 2211 W Irlo Bronson Hwy, Kissimmee, FL
114. Kmart, 19400 Cochran Blvd, Port Charlotte, FL
115. Kmart, 4955 Golden Gate Parkway, Naples, FL
116. Kmart, 111 Town & Country Drive, Palatka, FL
117. Kmart, 33 W Montgomery Cross Road, Savannah, GA
118. Kmart, 4561 Salt Lake Blvd, Halawa / Honolullu, HI
119. Kmart, 191 Outer Loop Road, Louisville, KY
120. Kmart, 2945 Scottsville Road, Bowling Green, KY
121. Kmart 14662, N US Highway 25 East, Corbin, KY
122. Kmart, 1501 Paris Pike, Georgetown, KY
123. Kmart, 3010 Fort Campbell Blvd, Hopkinsville, KY
124. Kmart, 1710 West Highway 192, London, KY
125. Kmart, 2815 West Parrish Avenue, Owensboro, KY
126. Kmart, 9 Plaza Way, Fairhaven, MA
127. Kmart, 1130 Newport Avenue, South Attleboro, MA
128. Kmart, 222 N Point Blvd, Baltimore, MD
129. Kmart, 688 Hogan Road, Bangor, ME
130. Kmart, 4645 Commercial Drive, New Hartford, NY
131. Kmart, 5132 6th Ave, Tacoma, WA
132. Kmart, 731, Beverly Pike, Elkins, WV
133. Kmart, 1050 Division Street, Parkersburg, WV
134. Kmart, 250 Three Springs Drive, Weirton, WV
135. Sears*, 301 Cox Creek Pkwy, Florence, AL
136. Sears, 1901 S Caraway Road, Jonesboro, AR
137. Sears, 90 Elm St; Enfield Sq, Enfield, CT
138. Sears*, 301 Eagle Ridge Dr, Lake Wales, FL
139. Sears*, 5101 Hinkleville Road, Paducah, KY
140. Sears*, 262 Swansea Mall Drive, Swansea, MA
141. Sears* 10 Whitten Road, Augusta, ME
142. Sears*, 1261 Niagara Falls Blvd, Amherst, NY
143. Sears*, 2000 Walden Ave, Cheektowaga, NY
144. Sears*, 1 N Galleria Dr, Middletown, NY
145. Sears, 9605 Queens Blvd, Rego Park, NY
146. Sears, 1901 S Yale Ave, Tulsa, OK
147. Sears, 3245 E State St, Hermitage/Sharon, PA
148. Sears*, 18600 Alderwood Mall Pkwy, Lynnwood, WA
149. Sears, 225 Meadowbrook Road, Bridgeport, WV
150. Sears* Towne Center Mall Charleston WV

*Sears Auto Center will be closed at this location.