The release does not provide a specific closing date of any location, saying all but two of the 68 Kmart stores will close in late July and two specific stores, including the Lorain location, will close in September. According to the release, the closures are expected "to generate a meaningful level of cash from the liquidation of store inventory and from the sale or sublease of some of the related real estate."Ken Kister, one of several local investors who owns the Ashtabula Towne Square Mall, said they had been working with Kmart to see what they could do to help them — including installing a new roof and furnace as well as a new parking lot — but the company was losing too much money nationwide.
While the Super Kmart is an anchor store, Kister said he was not shocked by the move.
He said at least eight big box stores are looking for space at the mall from 12,000 to 90,000 sq.
"It might be a bad thing in the short-term, but you never know what opportunity it may open for the community," he said, adding, "You never want to see anybody leave, but Kmart not being as strong as it used to be, it may leave room for another big store to take their place.
You might not have three large department stores in a community our size, but you could definitely have two." According to a release, the company said in February it would accelerate the closing of unprofitable stores.
The company said the decision followed "comprehensive evaluation of the company's store portfolio that took into account historical and recent store performance and the timing of lease expirations.""The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability," Lampert said in the release.
Weather System Home | Instrumentation | FAQ | OARDC | Centernet This weather data, while thought to be accurate, are NOT official records of the NOAA/NCDC, which are the only OFFICIAL records which can be used in court cases.
Spring and summer of 2016 was generally a good hay making season in our area.
We noticed this by the number and quality of hay samples we had at the Geauga County Fair when my nephew Dean and I judged hay and grain.
ASHTABULA TOWNSHIP — The Ashtabula Super Kmart will be closing by the end of July.
Parent company Sears Holdings announced Thursday that 68 Kmart and 10 Sears stores would be closed across the country this summer.
The Ashtabula Township location in the mall was one of seven Ohio stores on the list, including five other Kmart locations in Eaton, Fremont, Lima, Lorain and Springboro as well as a Sears location in Marion.
The Ashtabula Super Kmart employs about 100 people.
According to the release from Sears Holdings, "eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores.""We are committed to treating these associates with respect and compassion during this process," Edward Lampert, chairman and CEO of Sears Holdings, said in the release.