2 Minnesota Kmart stores are closing, and liquidation sales start this week - Bring Me The News

2 Minnesota Kmart stores are closing, and liquidation sales start this week

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Two of Minnesota's Kmart stores will be closing.

The stores in Moorhead and West St. Paul will shut down later this year, Howard Riefs of Sears Holdings (which owns Sears and Kmart) confirmed to BringMeTheNews Tuesday. They're among the 64 stores Kmart is closing across 28 states, Business Insider reports.

The closing stores will begin liquidation sales on Thursday, and will close to the public in mid-December.

The number of employees these closings will affect isn't publicly available, Riefs said, but most of them are part-time or hourly workers. They'll be eligible to receive severance and can apply for positions in other Sears or Kmart stores.

Riefs says deciding to close these stores was difficult, but necessary, noting Sears Holdings has been "strategically and aggressively evaluating our store space and productivity, and are accelerating the closing of unprofitable stores."

This latest round of closures comes after Sears Holdings decided to shut down nearly 80 stores (most of them Kmarts) back in July, Business Insider says, noting analysts said recently that Kmart doesn't have enough cash or access to cash to stay in business.

Currently, Kmart has 870 stores, including seven in Minnesota (that doesn't count the two that are closing). In 2012, there were 1,300 stores, Business Insider says.

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