The parent company of Sears and Kmart warned there is “substantial doubt” that the retailers can continue to survive.
The ominous warning from Sears Holdings came in an annual report filed with the Security and Exchange Commission.
» STORE CLOSURES: 9 retailers closing stores nationwide this year
“Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,” the company said.
The company, which lost $2.2 billion in sales last year, announced earlier this year that it would close 150 Sears and Kmart stores. That decision impacted 11 Kmart and Sears stores. It is not apparent if the filing would result in any more immediate store closures or lay-offs.
STORES IMPACTED IN OHIO:
• Kmart: 1500 Coshocton Ave., Mount Vernon
• Kmart: 185 Upper River Road, Gallipolis
• Kmart: 1005 East Columbus St., Kenton
• Kmart: 225 West Ave., New Boston
• Kmart: 1284 Brice Road, Reynoldsburg
• Kmart: I-70 & Mall Road St., Clairsville
• Kmart: 3515 N Maple Ave., Zanesville
• Sears: 2000 Brittain Road, Akron
• Sears: 1075 N Bridge St., Chillicothe
• Sears: 1701 River Valley Circle, S Lancaster
• Sears: Richmond Mall, Richmond Hts
Sears has several locations in the Miami Valley, including anchor stores at the Dayton Mall and the Mall at Fairfield Commons and the Miami Valley Centre Mall in Piqua.
Kmart has two locations in the Miami Valley on Woodman Drive in Kettering and Indian Ripple Road in Beavercreek.
FIVE FAST BUSINESS READS