The Kmart in Rehoboth will close along with 95 other stores across the country after parent company Sears secured a $250 million lifeline following mounting losses of sales from department stores nationwide.
“Since purchasing substantially all the assets of Sears Holdings Corporation in February 2019, Transformco has faced a difficult retail environment and other challenges,” the company wrote in a news release announcing the closings.
The company called the decision to close the stores “difficult but necessary” in order to streamline their operations.
“Following these closures, Transformco will operate 182 stores,” the company said. “We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy.”
Going out of business sales at the closing stores are expected to begin on Dec. 2nd.