The Sears store at the Montgomery Mall in North Wales is among nearly 100 Sears and Kmart locations nationwide that will shutter soon after the new year. Six of the stores are in Pennsylvania, writes Chris Ullery for The Intelligencer.
“We will endeavor to create and deliver value through a strategic combination of our better-performing retail stores and our service businesses, brands and other assets, and expect to realize a significant return on our extensive portfolio of owned and leased real estate,” announced Transformco, the parent company of Sears and Kmart.
This is just the latest in a series of closures announced by Sears since it went into Chapter 11 bankruptcy around a year ago.
According to the release, Transformco purchased nearly all of the assets from Sears Holding in February.
Currently, there are no specific plans to replace the anchor tenant at the Montgomery Mall.
“Although we do not have any specifics to share at this time, Montgomery Mall is continuously exploring new opportunities to enhance the property and offer a variety of experiences for the community,” Stephen Croner, manager of the mall.
Read more about the closing at The Intelligencer by clicking here.