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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.”

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 77 11,602
MORTGAGES 79 79 13,506
FORECLOSURE NOTICES 0 0 1,858
BUILDING PERMITS 96 96 24,260
BANKRUPTCIES 53 53 7,526
BUSINESS LICENSES 31 31 3,943
UTILITY CONNECTIONS 0 0 4,681
MARRIAGE LICENSES 20 20 2,564

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