Sears, Kmart closing more stores in NJ — Here’s the list
As its sales continue to shrink, Sears and Kmart are closing 72 stores, including four in New Jersey.
After announcing a loss of $424 million for its most recent quarter, the company said it will close 72 of the nearly 100 stores that are not making a profit. Even more closings are likely. The company said that some of the stores were pulled from the list for further review.
The three Sears stores and one Kmart store to be closed in New Jersey:
- Burlington: Mt. Holly Road (Burlington Town Center)
- Lawrenceville: Route 1 (Quaker Bridge Mall)
- Ocean Township: Route 66 (Seaview Square)
- Passaic/Clifton: 2434 Barbour Ave
The liquidation sales will start on June 14.
"We continue to evaluate our network of stores, which are a critical component in our transformation, and will make further adjustments as needed and as warranted," the company said in a statement, adding that it will also explore the sale of the Kenmore brand, the Sears Home Improvement Products business of the Sears Home Services division and the PartsDirect business of the Sears Home Services.
The company sold its iconic Craftsman brand to Stanley Black & Decker, meaning its tools are now sold in retailers other than Sears.
Sears has closed locations in Toms River, Watchung and Vineland in the past two years. Kmart stores in Clementon, East Brunswick, Manahawkin, Mantua, Pleasantville and Rio Grande have also closed.
The closures will leave New Jersey with 34 Sears and 15 Kmart locations.