Sears Announces Kmart Store In Gillette Will Close
The Kmart store in Gillette is among 46 Kmart and Sears stores that Sears Holding Corp., will close by the end of November, the company announced on Thursday.
No other Kmart or Sears stores in Wyoming were on the list reported by CNN on Thursday morning. Casper has a Kmart and a Sears.
Employees at the Gillette and other 12 Kmart stores and the 33 Sears stores were notified that their locations would close by November.
Liquidation sales at some of the stores will start as soon as August 30.
The company has already closed more than 100 stores this year -- including the last remaining Sears in its hometown of Chicago -- as it attempts to stem losses.
When Sears and Kmart merged in 2005, they had about 3,500 US stores between them. About 900 US stores remain, and more closings are likely.
"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement.
Sears has lost $11.2 billion since 2010, its last profitable year and sales have plunged 60% in that time.
The company has been looking at selling assets as a way to raise money. In August, CEO and majority shareholder Eddie Lampert offered to buy the company's Kenmore appliance brand for $400 million, and its Sears Home Services division for between $70 million and $80 million.