Sears Stores At 2 Maryland Malls To Close This Summer

BALTIMORE (WJZ/AP) — The Sears store and auto center at the Hunt Valley Towne Centre in Cockeysville and the store at Valley Mall in Hagerstown are both closing later this year, the company confirms.

The auto center will close in late July and the stores are set to close in mid-September. They will begin liquidation sales on June 30.

Eligible workers will receive severance and have the opportunity to apply for open positions at other local Sears or Kmart stores.

The chain announced earlier this month that it would cut about 400 full-time jobs as part of the its plan to turn its business around.

“We are making progress with the fundamental restructuring of our operations that we initiated in February,” Edward S. Lampert, chairman and CEO of Sears Holdings, said in a statement.

“We remain focused on realigning our business model in an evolving and highly competitive retail environment. This requires us to optimize our store footprint and operate as a leaner and simpler organization.”

Sears has been struggling with a sales malaise that extended during the first quarter of the year. The storied retailer vowed to make additional spending cuts to offset its slowing business.

The company reported in May that its operating loss widened to $222 million, or $2.15 per share, on weak sales in the latest quarter. A year ago, it reported a loss of $181 million.

Revenue fell 20 percent, to $4.3 billion, and sales at established stores fell 11.9 percent.

In March, Sears Holdings said that there was “substantial doubt” it could continue as a viable concern, with intense pressure coming from companies like Wal-Mart, Target and Amazon.com. It has insisted that its actions to turn around its business should help reduce that risk.

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(TM and Copyright 2017 CBS and its relevant subsidiaries. CBS and EYE Logo TM and Copyright 2017 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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