Warren Kmart to close

Staff report

WARREN

About a week after Kmart announced it would close its Boardman location, but said it would keep the Warren location open, the retailer has decided to close its Warren location at 2485 Parkman Road NW.

The location will close to the public in late April. A liquidation sale will begin Feb. 4.

“Store closures are part of a series of actions we’re taking to reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business model,” said Howard Riefs, Kmart director of corporate communications, in a statement.

The store, which opened in November 1980, has 63 employees. Those associates who are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores. Most of the associates are part time/hourly.

The Boardman location at 1209 Boardman-Poland Road will close in mid-April. Its liquidation sale begins Jan. 24.

Kmart announced the closing of the Boardman location Jan. 12. That location has been open for nearly 48 years.

Last week, when the company announced the Boardman location would close, The Vindicator was told the Warren and Austintown locations would stay open.

Last year, the retailer said it would close the Warren location in the fall, but then decided to keep it open.

“We have worked with the landlord on amending our lease that will enable the Kmart store to remain open to the public and continue to employ our 68 associates,” the company said in an August statement.

In its latest earnings report for the third quarter of 2015, Sears Holdings, parent company of Kmart, reported a net loss of $454 million compared with a net loss of $548 million in the third quarter of 2014.

The company also reported a revenue decrease of about $1.5 billion to $5.8 billion for the third quarter ending Oct. 31, 2015, compared with revenues of $7.2 billion for the third quarter of 2014.

The Austintown location at 4475 Mahoning Ave. will remain open.