Hoffman Estates, Ill. - Sears Holdings will close 43 of its independently owned Hometown stores during the first half of the year.
The closures, which were disclosed in a 10-K filing yesterday, follow the company's announced plans to shutter upwards of 120 Sears and Kmart stores, sell 11 Sears locations and spin off its Hometown, outlet and select hardware specialty stores.
Sears operates 986 Hometown stores, which are usually independently owned and located in smaller communities. The stores average 8,500 square feet in size and carry major appliances, consumer electronics, lawn and garden equipment, and hardware, including the company's private-label Kenmore, Craftsman and DieHard brands.
In addition, Sears plans to shut 10 of its 96 neighborhood hardware stores and will convert eight of its Sears Essentials and Sears Grand locations to Kmart stores. The Essential and Grand formats are freestanding full-line Sears stores that, unlike the typical mall-based Sears, also carry health and beauty products, pantry goods, household products and toys.