ST. PETERS, Mo. – Over 20 Sears and Kmart stores will close in late October, including the Sears at Mid Rivers Mall.
‘Over the past several months, we have worked hard to strengthen our vendor relationships, return our inventory levels to normal, and improve customer satisfaction and operations; however, we have faced a number of challenges returning our stores to sustainable levels of productivity, including differences with Sears Holdings over our purchase agreement and a generally weak retail environment. These challenges have unfortunately affected our performance and limited our strategic choices,’ Sears said in a statement on Wednesday.
Liquidation sales will begin around Aug. 15.
Sears said eligible associates will be offered the same number of weeks of severance as offered to employees of Sears Holdings Corporation prior to that company’s Chapter 11 filing in October 2018.