Austintown Kmart is on latest list of closings
AUSTINTOWN — The Kmart in Austintown is among the latest closures for the troubled company.
Sears Holding Co. announced Thursday that it would be closing another 45 Kmart and 18 Sears locations. The list of closures included several Ohio and Pennsylvania stores, although the Austintown Kmart is the only local store on the list.
It is unknown when the store will close.
This comes after Kmart locations in Boardman and Warren have closed, as well as Sears stores in Salem, Hermitage, Austintown and New Castle.
Sears Holding Co. has been closing its stores across the U.S. in a cost-cutting campaign amid a decline for the department-store sector.
The company, which will still have about 950 stores after the closures, said in a public filing that it believes it has at least another 12 months of cash to continue operating.
As recently as 2012, the company had 1,305 Kmart stores and 867 full-line Sears stores in the U.S. But by the end of the first quarter of this year, only 626 full-line Sears and 624 Kmart locations remained.