Transformco to Close One-Third of<br />Sears and Kmart Stores.<br />In an announcement on Nov. 7,<br />Transformco detailed their continued<br />plans to downsize and “[prune] operations.” .<br />We have been working hard to position<br />Transformco for success by focusing on<br />our competitive strengths and pruning<br />operations that have struggled due to<br />increased competition and other factors, Transformco, via 'USA Today'.<br />The company, which owns both Sears and Kmart<br />first filed for bankruptcy in October of 2018. .<br />In this latest round of closures, 51 Sears stores<br />and 45 Kmart locations will be shuttered, leaving<br />the company with 182 remaining stores. .<br />Transformco also went forward with a number<br />of corporate layoffs, adding to the over 200,000<br />jobs the company has cut in the last 15 years. .<br />Combined with their recently-acquired funding amount<br />of $250 million, Transformco hopes these changes will<br />aid in their pursuit of a sustainable business model. .<br />We will endeavor to create and deliver value<br />through a strategic combination of our<br />better-performing retail stores and our service<br />businesses, brands and other assets .., Transformco, via 'USA Today'
