Sears in Nittany Mall to Close

Sears in Nittany Mall to Close

Sears in Nittany Mall to Close

The Lynchburg store is one of four Kmarts in Virginia slated for closure, according to Thursday's announcement.

The stores, including Sears in Phillipsburg, will close late January 2018 but will still be open during the holiday season.

"In fiscal year 2017, we have closed approximately 180 stores previously announced for closure, and an additional 150 stores previously announced for closure are expected to be closed by the end of the third quarter of 2017", the company said at the time.

The company notified employees of the closings Thursday and plans to keep the stores open through the holidays but liquidation could begin as early as next Thursday.

In September, Sears Holding closed its remaining full-service Sears department store in Toledo located on Central Avenue near Secor Road.

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"Sears Holdings continues its strategic assessment of the productivity of our Kmart and Sears store base and will continue to right size our store footprint in number and size".

Sears' financial position has gotten it in hot water with its vendors in the previous year, many scaling back on their business with the retailer for fear of bad deals.

Even Whirlpool, which got its start selling appliances through Sears in 1916, is ending sales of its Whirlpool, Maytag, KitchenAid and Jenn-Air appliances at Sears.

But Sears issued a statement Tuesday disputing an article in the The Wall Street Journal that claimed many vendors were refusing to send products to Sears and Kmart, calling the story "yet another rehash of inaccurate assertions and negative speculation about Sears Holdings and its future".

Sears Holdings stock was down almost 5 percent to $5.17 at close of trading Friday.

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