LAKE COUNTY — The Lakeport Kmart was spared from the first announced store closings by owner Sears Holdings Corporation.
On Thursday, Sears Holdings named 79 of a proposed 100 to 120 stores throughout the country that will close. Of those 79, three are in California: a Sears store in the Los Angeles county city of El Monte, another Sears in the Carmel Valley community of San Diego and a Sears Auto Center in the Clairemont neighborhood of San Diego. No California Kmart locations were on the list.
On Tuesday, Sears Holdings announced it would be closing 100 to 120 stores to save the company $140 to $170 million in costs in the wake of lackluster sales figures. The company hopes to make additional revenue from leasing or selling building space. It will also reduce inventory by $300 million and reduce its fixed costs by $100 to $200 million.
Lake County Publishing will report on announced closures as information becomes available.
Kevin N. Hume can be reached at kevin.n.hume@gmail.com or call directly 263-5636 ext. 14.
