Transform Holdco LLC announced earlier in the year that it would close 26 large-format Sears and Kmart stores in late October. The parent company of Sears and Kmart says it will close 96 more stores around the nation, citing a “difficult retail environment and other challenges,” according to Bloomberg. The latest announcement comes from Sears and Kmart, where more store closures are in store. In fact, one industry watchdog predicts that it’s possible 12,000 stores will have closed before we ring in 2020. Nearly 5,000 stores shut their doors in 2018, and 2019 has already surpassed that number. This year has been another difficult one for traditional retailers.
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