Kmart To Close 4 New Jersey Stores

Add Kmart to the list of companies that's closing numerous department stores nationwide - including four in New Jersey - as part of a large downsizing.

Sears said it will close 150 Kmart and Sears stores by the spring, part of a "difficult but necessary step as we take actions to strengthen the company’s operations and fund its transformation," the company said in a statement.

No New Jersey Sears stores are on the list. Here are the four New Jersey Kmart locations that subject to closure:

• 1468 Clementon Road, Clementon
• 645 Highway 18, East Brunswick
• 800 Black Horse Pike, Pleasantville
• Rte 9 & Rte 47, Rio Grande

The news comes a day after Macy's said it's closing 68 stores nationwide, including three in New Jersey. Read more: Macy's To Close 3 New Jersey Stores.

Disappointing holiday sales were reported at all department stores nationwide, as well as declines in stock prices, just before the closures were announced.

Sears, which owns Kmart stores, said many of these locations have "struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around."

"But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success," according to a statement from the company.

Eligible employees impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores, according to the company.

Patch file photo