Kmart, Sears to close in Atascadero, Santa Maria by early 2020

Andrew Cummings
November 10, 2019

Sears owner Transformco announced Thursday it has obtained $250 million in new capital, money meant to help fuel the company's turnaround after it obtained essentially all of Sears Holding Company's assets during its bankruptcy proceedings earlier this year.

The Central Coast is losing the last of its remaining Sears and Kmart stores. These assets include Innovel, which provides logistics solutions to businesses and consumers, Sears Home Services as well as Shop Your Way® and financial services, and our Kenmore® and DieHard brands.

According to The Buffalo News, it will be the last time the Western New York area will be without a Sears store in 90 years.

The company says 182 of the stores will remain open.

Sears and Kmart stores are facing more closures.

The 96 locations, which are a mixture of Kmart and Sears branded stores, are set to close by February. We have been working hard to position Transformco for success by focusing on our competitive strengths and pruning operations that have struggled due to increased competition and other factors.

Transformco said going-out-of-business sales are set to begin on December 2. Lampert, formerly the company's chairman and CEO, has bankrolled the retailer for years to keep it going but so far failed to return it to profitability. The 96 stores will shutter by February. That left Sears faced with the choice of raising additional money or potentially closing even more stores, they said.

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