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Wave of closings spares Lincolnton Sears

SARAH LOWERY
Staff Writer

 

Despite last week’s announcement by Sears Holdings Corp. that it would be closing more than 100 stores across the country, it looks like Lincolnton’s Sears Home Services should be safe.
An associate with the Lincolnton store, located on East Main Street, told the Times-News Friday that as an independently owned store, it will not be affected by the announcement of closures.
Sears released a preliminary list on Thursday of the first 79 planned store closings to take place, with four of those in North Carolina. A Sears Full-Line Store in Statesville which made the list is the closest in proximity to Lincoln County. The others are in High Point, Morehead City and Rocky Mount.
The Associated Press is reporting that the 125-year-old retailer has plans to shut down up to 120 stores total to “raise cash.”
According to the list released, the typical store closure will result in between 40 and 80 associates losing their jobs, though employment varies by store and format. The total number of impacted employees has not been provided.
Many of these initial closures include Kmart stores. Kmart Holding Corp. bought Sears, Roebuck & Co. in 2005, and the company expects to generate $140 to $170 million from the closings, according to a Dec. 27 press release.
Mooresville-based Lowe’s announced the closure of roughly 20 of its stores in October. Both of Lincoln County’s locations remained unaffected by that announcement, as well.

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