{"id":10062,"date":"2017-01-05T12:19:24","date_gmt":"2017-01-05T17:19:24","guid":{"rendered":"https:\/\/www.shorebeat.com\/brick\/?p=10062"},"modified":"2017-01-05T12:19:24","modified_gmt":"2017-01-05T17:19:24","slug":"brick-kmart-store-to-survive-latest-round-of-closures","status":"publish","type":"post","link":"https:\/\/shorebeat.com\/brick\/2017\/01\/brick-kmart-store-to-survive-latest-round-of-closures\/","title":{"rendered":"Brick Kmart Store to Survive Latest Round of Closures"},"content":{"rendered":"
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The Laurel Square shopping center, Brick, N.J. (Photo: Daniel Nee)<\/p><\/div>\n

The Laurel Square shopping center will not be losing an additional anchor store.<\/p>\n

Kmart and Sears on Thursday jointly released a list of about 150 stores that would be closing soon. The list did not include any stores in Ocean County.<\/p>\n

The company said in a statement that all of the stores that are closing would begin liquidating their inventory as soon as this weekend. The closures themselves would commence at\u00a0the end of February through mid-March. The company blamed a \u201cchallenging retail environment\u201d \u2013 a nod to the popularity of online shopping and competition from sites such as Amazon.com \u2013 as the reason behind the downsizing.<\/p>\n

\u201cWe are taking strong, decisive actions today to stabilize the company and improve our financial flexibility in what remains a challenging retail environment,\u201d said\u00a0Edward S. Lampert<\/span>, Chairman and CEO of Sears Holdings. \u201cWe are committed to improving short-term operating performance in order to achieve our long-term transformation.\u201d<\/p>\n

Sears will also sell the Craftsman brand of tools to\u00a0Stanley Black & Decker Inc. for $775 million divided between two payments, the company said. The brand will now be sold primarily outside Sears stores.<\/p>\n

Stores Closing in New Jersey:<\/strong><\/p>\n