Skip to main content

The future looks bleak for Minnesota's Sears and Kmart stores

If it doesn't find extra cash and keeps experiencing losses, Sears' owner admits it won't be able to stock its stores.

The company that operates department stores Sears and Kmart admits there is "substantial doubt" about its ability to stay in business.

In a filing with with Securities and Exchange Commission on Tuesday, the company said its operating results "indicate substantial doubt exists relating to the company's ability to continue as a going concern," ABC News reports.

The company has lost $10.4 billion since 2011 and retail expert Ken Perkins told the TV station Sears could only truly survive if it operated 200 stores – it currently has 1,430.

According to USA Today, it's trying to find ways to mitigate its cash woes, but if it's unable to raise extra money while continuing to experience losses, it might not be able to afford to stock its stores.

If Sears goes down it's likely to take Kmart with it, with the newspaper reporting the company has failed to keep up with modern style trends, or cope with the huge shift of shoppers online.

Sears still operates 42 stores and auto centers across Minnesota, retaining a presence through its Hometown Stores locations in many cities in greater Minnesota. However, some of these were slated for closure when Sears shut down its Mankato and Coon Rapids locations this past January.

Kmart's footprint in the state is smaller, operating just six stores in Minneapolis, Duluth, International Falls, Rochester, St. Paul, and Thief River Falls.

Since Sears and Kmart merged in late 2004/early 2005, both companies' fortunes have dwindled, with CNN Money noting Sears alone has closed about 2,000 stores over the past decade.

It's been an ignominious fall from grace for what was once America's biggest retailer. It saw business boom in post-WWII America as it developed an extensive store network, the website says.

One of Sears' rivals, J.C. Penney, is also struggling and last week announced it would be closing 138 stores across the country, including eight in Minnesota.

Next Up

Target store

Target unveils deals for 2-day 'Cyber Monday' event

The promotion kicks off Sunday, November 28.

Screen Shot 2021-11-27 at 9.59.30 AM

Edina police warn of recent burglary trend targeting garages and vehicles

The Edina Police Department is increasing patrols in affected neighborhoods in response to the trend.

Screen Shot 2021-11-27 at 9.03.06 AM

Charges: Man shot Uber Eats driver making a delivery in Cottage Grove

Otis Donnell Shipp was charged with second-degree attempted murder after turning himself in on Wednesday.

Screen Shot 2021-11-27 at 7.36.14 AM

Waterfront hotel in Duluth sustains damage in kitchen fire

Authorities estimate the damage at around $75,000.

Screen Shot 2021-11-27 at 7.15.18 AM

Large groups of thieves target 2 Twin Cities Best Buys on Black Friday

It bears similarities to the flash-mob style thefts seen recently in California.

Karl-Anthony Towns

Timberwolves' winning streak snapped at five games

The Wolves' bid for their longest winning streak since 2014 came up short.

Screen Shot 2020-08-14 at 6.45.53 PM

Teen arrested over fatal shooting of 5-year-old boy in Brooklyn Park

Police say the teen was filming a social media video while handling a gun.

Joe Biden

President Biden coming to Minnesota to promote Bipartisan Infrastructure Law

Tuesday's trip follows passage of the $1.2 trillion Bipartisan Infrastructure Deal.

Kirill Kaprizov

Kaprizov gets into the holiday spirit to rout Jets

Kirill Kaprizov's four points led the Wild to a 7-1 victory.

Kirk Cousins

Coller: Cure to Vikings' disrupted season lies in an explosive passing game

The Vikings go to San Francisco knowing that a win would be a huge boost to their playoff hopes.


Now Sears and Kmart are closing stores in MN

First Macy's and The Limited, now Sears and Kmart.

Sears to close Mall of America store, Kmart in Rochester

The beleaguered retailer is shutting 80 stores nationwide.

2 Sears stores, 1 Kmart to close in Minnesota

It's the latest round of closures announced by the struggling retailer.

Sears to close its Maplewood store

The retailer has been struggling for years.

Footwear retailer Payless to close 4 stores in Minnesota

The CEO said it was a "difficult but necessary decision."

Sears to close 142 stores after bankruptcy filing, 2 in Minnesota

What was once a retail giant has fallen on hard times.

TV star who bought Gander Mountain is tweeting about future of remaining stores

He said an update on the 9 remaining Minnesota stores is "coming soon."

Can a new partnership with Amazon and Alexa save Sears?

Alexa, help rescue Sears from doom. And start my laundry while you're at it.