Sears Holdings Corp. says it’s closing 40 more Sears and Kmart stores, including the Sears location at Westfield Montgomery mall in Bethesda.
The closure of the Sears store at 1703 Democracy Blvd. had long been expected. Mall owner Unibail-Rodamco-Westfield announced in June plans for a mixed-use development next to the mall that will include 682 residential units, a variety of new retail and fine dining options. The project partly encompasses the current location of the mall’s Sears store.
Westfield hopes to break ground on the first phase late next year with delivery by 2022.
“As part of Sears Holdings’ processes to accelerate its strategic transformation and facilitate its financial restructuring, on Nov. 8 the company informed associates at 40 stores that we will be closing these Sears and Kmart stores in February 2019. Liquidation sales at these stores are expected to begin late next week. … This is in addition to the previously announced closure of 142 unprofitable stores expected…Read the full story from the Washington Business Journal.