Eight Sears and Kmart stores will permanently close in New England as part of a bigger initiative to shut down 96 stores nationwide.
Transformco, the company that acquired Sears Holdings Corporation this February, cited "increased competition and other factors" as reasons for the upcoming closures. To support new initiatives from the company, its owners and a third-party investor provided Transformco $250 million in new capital.
Following the closures, 182 stores will remain open as the company focuses on ways to improve Sears and Kmart’s "overall retail and service strategy."
The 96 selected stores will close by February 2020. Here are the eight stores that will close in New England:
- Billerica – 484 Boston Road;
- Acton – 252 Main Street
- Leominster – 100 Commercial Road
- Auburn – 385 Southbridge Street
- Hooksett – 1267 Hooksett Road
- Salem – 161 South Broadway
- Nashua – 310 Daniel Webster Highway, Suite 102
- Concord – 270 Loudon Road