More News:

April 21, 2016

Kmart in Northeast Philly one of 68 to close this summer

Sears Holdings says closures part of measure to restore profitability

Closures Sears
042116_KmartNortheast Source/Google Street View

Kmart location at 8800 Frankford Avenue in Northeast Philadelphia will close in July 2016.

Sears Holdings announced Thursday that the Kmart at 8800 Frankford Ave. in Northeast Philadelphia will be among 68 locations and another 10 Sears stores to close this summer.

The announcement after a February decision to accelerate the closing of unprofitable stores.

"The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability," said Edward S. Lampert, Chairman and Chief Executive Officer of Sears Holdings. "We're focusing on our best members, our best categories and our best stores as we work to accelerate our transformation."

The company confirmed that eligible store associates affected by the closures, which include six total in Pennsylvania, will receive severance and be given the opportunity to apply for open positions at nearby Kmart and Sears stores.

"We are committed to treating these associates with respect and compassion during this process," said Lampert.

A complete list of closures can be found here.