- An internal Sears document tells how store managers have been instructed to inform employees about upcoming closures and layoffs.
- The document contains a script that managers can read to employees during a staff meeting.
- "The decision was made to close our store," says the script shared with the executives this week. "I can assure you that this decision was taken very seriously, but after much discussion and consideration of all options, this transaction will soon begin the liquidation process."
- Sears announced Thursday that 96 Sears should be closed and Kmart stores until February.
- For more information, visit the Business Insider homepage.
An internal Sears document describes how the company communicated information to employees about an upcoming round of 96 store closures and layoffs.
The document contains a script that managers can read to employees during a staff meeting.
"Transformco has faced challenges since purchasing substantially all of Sears Holdings Corporation's assets in February," the script says in a copy of the Business Insider-reviewed document. Unfortunately, these challenges have impacted performance and limited the company's strategic decisions.
"This brings me to a very difficult conversation. It was decided to close our business. I can assure you that this decision was taken very seriously. However, after much discussion and consideration of all options, this transaction will soon begin the process of liquidation.
The script explains the winding-up process: An adviser will arrive in the store in mid-November, and the liquidation will begin on December 2. The store will remain open until February 2020.
"Our goal is an open one and honest communication, "The script says." Within the next two weeks, a market or regional representative will come to our shop to discuss our final details and answer any questions. In addition, the market or regional representative will send each one of you written notice of the closure of the transaction. You are requested to sign this notice to indicate that you have been informed.
"I'd like to thank you or all of your dedicated service for this shop and express our appreciation for all your contributions, and here I am going to open the floor for questions."
As Transform Holdco in February, Sears from bankruptcy, the company had approximately 400 Sears and Kmart stores. After completion of the last branch closure, 1
In a statement issued on Thursday, Transformco said that the company "faced a challenging retail environment and other challenges" and that it was "cleanup operations under pressure due to increased competition and other factors."
Read the full script below:
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