SAN DIEGO – Kmart's Spring Valley store is one of 46 unprofitable outlets following an announcement by Sears Holding Corp. to be sold this week.
Five stores in California are among the 12 Kmart and 33 Sears stores are due to close by November. This includes the Kmart business at 935 Sweetwater Road in Spring Valley.
The other Californian closures are the Kmart stores in Los Angeles, Antioch and Clovis, and a Sears in Santa Cruz. Sears Holding Corp. owns both the Sears and the Kmart chains.
The 125-year-old dealer has closed hundreds of stores in recent years to improve his record.
"We continue to evaluate our store network as a critical component of our integrated retail transformation and will make further adjustments as needed," the company said in a statement.
This latest announcement comes just days after Lowe announced that it will close all of Orchard Supply Hardware's businesses for five years following the purchase of the bankruptcy chain from its former owner, Sears Holdings Corp.
The latest Sears and Kmart liquidation sales are expected to begin on Thursday, August 30.