FAST FIVE: Sears To Close A Third Of Its Remaining Stores As Iconic Retailer Fades Away
Sears To Close A Third Of Its Remaining Stores As Iconic Retailer Fades Away Transformco, the shell company that bought bankrupt retailer Sears Holdings Corp.
“Since purchasing substantially all the assets of Sears Holdings Corporation in February 2019, Transformco has faced a difficult retail environment and other challenges.
We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy,” the statement read. Financier Edward Lampert, also the former CEO of Sears, established Transformco and purchased the company out of bankruptcy, with plans to turn it around. Lampert acquired 223 Sears and 202 Kmart stores, the Kenmore and DieHard brands, for approximately $5.2 billion.
2020. Here are the latest store closings: As for the overall retail space, our report from Sept.
specified how 2019 store closures already outpaced all of 2018.