Local Kmart store to close

06 January, 2018, 02:45 | Author: Rita Burton
  • Local Kmart store to close

Among the locations set to go out of business is the Sears on Hooper Avenue in Toms River.

Sears Holdings, which owns both Sears and K-Mart, announced the closings Thursday, extending months of similar shut downs.

Eligible employees will receive severance and all employees can apply for openings at other stores.

Closeout sales at the affected locations will begin next week, the company said in a press release, and all 103 locations will be shuttered by May. 39 Sears stores are also shutting down, including locations at the Northwest Arkansas Mall in Fayetteville and the Central Mall in Fort Smith. The rise of e-commerce competition is cited as a major cause of the scaled-down operations.

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In addition to the Kmart in Cumru Township, the company once operated stores in Exeter and Muhlenberg townships, with the Muhlenberg Kmart being among dozens that closed in 2016.

Sears Canada filed for bankruptcy past year, and is in the process of shuttering its business entirely.

The closures are part of an effort to "right size" its footprint and the company's finances, according to a news release.

Macy's is closing 11 stores and laying off 5,000 employees but neither local store is on the list.

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