Sears To Close Spotsylvania Town Centre Location: Report

SPOTSYLVANIA COUNTY, VA — Transformco, the parent company of Sears and Kmart, announced Thursday it plans shut another 96 stores by February. Among those stores is the Sears located at Spotsylvania Town Centre, according to a report.

Sears has anchored Spotsylvania Towne Centre since the mall opened in 1980, the Free Lance-Star reported, and will likely be torn down to make way for an apartment building.

This latest round of closures is expected to shutter 51 Sears stores and 45 Kmart location across the nation. In the last 15 years, Sears and Kmart have closed more than 3,500 stores.

It’s not all bad news for the national retailers, though, Transformco also said Thursday that it had secured a $250 million lifeline that should help the company better focus on its “competitive strengths.”

Sears and Kmart are part of a growing list of brick-and-mortar establishments that have seen a nosedive in revenue and popularity with the emergence of e-commerce companies such as Amazon and Walmart.

The going out-out-of business sales are set to begin on Dec. 2, according to Transformco.

Patch staffer Gus Saltonstall contributed to this report.