A Kmart store in the Spokane Valley is one of two in Washington state that are on a leaked list of more than 200 Kmart stores reportedly slated for closure, the Puget Sound Business Journal, of Seattle, says.
Kmart Corp., the struggling Troy, Mich.-based discount retailer, filed last month for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. Although store closures are anticipated, the 240,000-employee chain hasnt said publicly yet how many or which stores it expects to close.
The PSBJ said an affiliate publication, the Atlanta Business Chronicle, had obtained the store-closure list, and that real estate sources who manage Kmart properties in Atlanta confirmed to the Chronicle that they had been notified by Kmart of its plans to close a number of stores there. The only other Kmart store in Washington that appeared on the list was one in Sunnyside, near Yakima.
The Spokane Valley store is located at 15303 E. Sprague and is one of three Kmart stores in the Spokane area. The others are located at 4110 E. Sprague and at 6606 N. Division. There also is a Kmart store in Coeur dAlene.
The manager of the Veradale store couldnt be reached for comment earlier this week. However, corporate spokeswoman Julie Fracker says, We have not issued a list of store closings, and Kmart still is evaluating its stores. The company probably wont release a list of stores slated for closure until late March or early April, after notifying employees at the stores that will be shuttered, she says.
Both Washington stores on the list feature Kmarts supercenter format, known as Big Kmart. Analysts have speculated that Big Kmart stores might bear the brunt of the looming store closures, the Puget Sound Business Journal article says. Both stores also are stand-alone units that dont serve as shopping mall anchors.
Kmart Corp. currently operates 31 Kmart and Big Kmart stores in Washington, 19 of them in the Puget Sound area. Overall, it operates more than 2,100 stores.
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