Arvada Kmart To Close In September

ARVADA, CO – Sears on Thursday announced the locations that would be closing their doors as part of a nationwide culling operation. The Arvada Kmart at 9881 W. 58th Ave. was listed as one of "approximately 100 non-profitable stores" that will close by September.

This site is the only store in Colorado that will be closed, the company said in a statement.

"The company on Thursday, May 31 informed associates at 15 Kmart stores and 48 Sears stores that we will be closing these stores in early September 2018," the company said in a statement. "We continue to evaluate our network of stores, which are a critical component in our transformation, and will make further adjustments as needed and as warranted."

The company, which is based in the Chicago-area, said eligible workers will be able to apply for severance or a transfer to other Sears or Kmart locations. The company did not specify how many Colorado employees would be affected.

The company said they would be announcing liquidation of the inventories of affected stores soon.

As of Thursday, Sears had not filed a federally-required Worker Adjustment and Retraining Notification (WARN) notice with the Colorado Department of Labor and Employment.

Maria Vanderkolk, Arvada spokesperson, confirmed that the city of Arvada did receive a notice from Sears. However, she did not immediately know how many employees would be affected, she said.

Sears reported a net loss of $424 million during the first quarter of 2018. During the first quarter last year, Sears saw earnings of $245 million, due in part to a $492 million gain related to the sale of the Craftsman brand.

"In a challenging quarter, we continued to focus on our strategic transformation, identifying additional opportunities to streamline operations and adjust inventory and operating expenses while staying focused on our Best Members, Best Categories and Best Stores," Chairman and Chief Executive Officer of Holdings Edward S. Lampert said in a statement.

See the total list of closing Sears and Kmart locations here.

Photo: Signs advertise the closing of a Sears store on May 3, 2018 in Chicago, Illinois. The store, which opened in 1938, is the city's last remaining Sears store. Sears opened its first retail store in Chicago in 1925. (Photo by Scott Olson/Getty Images)