3 More Michigan Kmart Stores On Sears Holdings Chopping Block

Three more Michigan Kmart stores are closing, likely in September, according to a list of 72 more stores Sears said it would shutter. Sears Holdings Corp. which owns both Kmart and Sears retail stores, is swimming in red ink, and the cutbacks reflect the company’s struggle to meet a $500 million loan debt that matures in July.

The new stores are among more than 180 closures Sears previously announced this year. Sixteen Sears stores, 49 Kmart stores and seven auto centers are closing.
The list of closing stores, obtained by Business Insider, includes stores in Traverse City, West Branch and Cheboygan.

Earlier this year, Sears Holdings closed the Kmart store at 33400 W. Seven Mile Road in Livonia.

Sears CEO Eddie Lampert told Business Insider that media coverage has unfairly labeled the Sears as a failure, but said the “reality is better than the perception.” He told the Chicago Tribune Sears is “fighting like hell” to stay alive, despite the obstacles of its public relations difficulties.

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