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New Store Closings Spare (So Far) Mon-Yough Kmarts
By Staff Reports
The Tube City Almanac
June 07, 2017
Posted in: McKeesport and Region News
The Mon-Yough area's two remaining Kmarts are so far spared from the store closings being planned by their parent company.
Kmart stores at the corner of Route 30 and Route 48 in North Versailles Twp. and on Route 51 in Pleasant Hills are not on the list of closures sent Tuesday to employees of Sears Holdings Corp., which is declining comment to the media.
But Kmart stores in Rostraver Twp., Westmoreland County, and near Indiana and Butler, Pa., are being closed this year, likely before September, according to published reports.
The list obtained by media outlets indicates that Sears Holdings will close 16 Sears, Roebuck & Co. locations and 49 Kmart stores, including those three in Pennsylvania.
Sears Holdings has been selling off assets and closing stores in an attempt to return to profitability. The company last reported a profit in 2011; in 2016, it lost $2.2 billion on sales of $22.14 billion.
A Kmart store in Edgewood Towne Center closed last year, while a store near Monroeville Mall closed earlier this year. There are no Mon-Yough area Sears stores remaining; a location at Penn Center in Wilkins Twp. closed in 2012, while one at Century III Mall closed in 2014.
In 2000, before the 2005 merger of Sears and Kmart, the separate chains reported having 5,134 stores, including 2,171 Kmarts and 863 full-line Sears department stores. Before the most recent round of closings, the chains reported having a combined 1,503 locations.
The company's 2016 annual report said that "substantial doubt exists" as to Sears and Kmart's "ability to continue as a going concern."
Originally published June 07, 2017.
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