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VOL. 126 | NO. 254 | Friday, December 30, 2011

No Memphis Sears, Kmart Stores on First List of Closures

Daily News staff

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No Memphis stores are in the first round of closings Sears Holdings Corp. has announced.

Hoffman Estates, Ill.-based Sears Holdings announced Tuesday, Dec. 27, it planned to close 100 to 120 Sears and Kmart stores. The company released a list of 79 Thursday, Dec. 29, stating the remainder would be announced later.

Three Tennessee Sears are on the closure list, one each in Antioch, Cleveland and Oak Ridge. A Kmart in Henderson, Tenn., is also on the list

Sears Holdings said it expects the closures to generate $140 million to $170 million of cash and reduce fixed closed by $100 million to $200 million.

The company also said it plans to evaluate store performance going forward and “act opportunistically to recognize value from poor performing stores as circumstances allow.”

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 56 437 16,061
MORTGAGES 76 508 18,556
FORECLOSURE NOTICES 8 56 2,461
BUILDING PERMITS 241 876 33,390
BANKRUPTCIES 64 301 10,314
BUSINESS LICENSES 15 125 5,303
UTILITY CONNECTIONS 17 125 6,273
MARRIAGE LICENSES 19 98 3,511