Battle Creek, Portage Sears Stores Not Among Those Closing
Battle Creek has avoided a big blow to Lakeview Square Mall as the Sears location is not listed among the 63 stores that are announced to close. The Sears store at Crossroads Mall in Portage is also safe along with the Kmart in Marshall according to reports today. However, Sears Holdings did note in its closings list released Thursday that nine stores, whose locations were not disclosed, were pulled from the original list of 72 stores and those stores will be evaluated further.
Lakeview Square Mall has been losing an alarming amount of stores in recent years. Less than a month ago, F.Y.E., which sold music, movies and pop-culture memorabilia, closed its doors. In January, two jewelry stores closed and J.C. Penney shut its doors in June of 2017. At least for now, Battle Creek's only indoor mall will keep its biggest remaining retail outlet.
Four Michigan locations are on the list including the Sears store including locations in Flint, Dearborn, Sterling Heights, and Traverse City.
This round of closings will leave the company with nearly 800 stores, which is down from almost 1,000 at the end of 2017. The company peaked in 2012 with 4,000 stores. Sears had over $424 million in quarterly losses and that the store closings already underway aided a drop of over 30 percent in revenue.