In its efforts to downsize its stores’ footprint, US retailer Sears plans to shut down more stores.
Transformco Holdings, which owns the American retail giant, is all set to close 13 more stores after years of steady retrenchment.
The shutting down of physical stores include those in Texas, California, Virginia, Hawaii, Florida, Maryland, New York and Massachusetts.
Transformco, however, hasn’t revealed more details on the same.
Closure of reputed aforementioned stores is not a surprise move by Sears. The retailer has been struggling for some time now. Divestment of Sears Canada few years back followed by Chapter 11 bankruptcy filing in 2018 were clear indication that all is not well at Sears.
The American retailer, reportedly, was last profitable in 2010.
In fact, ever since Sears filed for bankruptcy in 2018, it has shut down hundreds of stores and today it is hardly left with any more.
More on this, Forbes reported last week that Transformco had only 36 department stores left, while Kmarts had only 30.
With number of Sears’ stores further shrinking, the tunnel gets darker for malls, which has been going through one of its worst phases lately.