Get the latest news and trends on Long Island companies and the people behind them.
Sears closing 3 hardware stores on LI
Three Sears Hardware stores on Long Island are closing as parent company Sears Holding Corp. continues to cull poorly performing locations from its roster, an official said Thursday.
Sears Hardware locations in Lindenhurst, North Babylon and Hauppauge are running closing sales. The stores' exact closing dates have yet to be determined, said Kim Freely, Sears Holdings Corp. spokeswoman. However, the lease for the Lindenhurst store expires in the beginning of June, and leases for the North Babylon and Hauppauge stores end in mid-August and mid-September, respectively, she said.
The company reported a $2.4 billion fourth-quarter loss for the three months ending Jan. 28. The retail chain, which is based in Hoffman Estates, Ill., announced in December that it would close 100 to 120 full-line Kmart and Sears stores in hopes of generating between $140 million and $170 million. Sears Holdings has also been eliminating smaller specialty stores which have not been faring well.
Freely did not know the number of employees who would be affected by the closures. Those employees will be notified of open positions at other Sears and Kmart locations, but they will have to apply for those jobs, she said.