FLINT TOWNSHIP (WJRT) (5/31/2018) - The Sears at the Genesee Valley Center mall is among the growing list to close.
Sears Holdings Corp. announced the Flint Township store is among 72 Sears and Kmart stores that will close soon. All of the affected stores will close sometime in September.
The exact closing date and start of liquidation sales was not announced, but the company indicated they could begin by June 14. The number of employees affected was not immediately available.
All of the employees is eligible for severance pay and have the option of applying for positions at other Sears and Kmart stores.
The Sears Auto Center outside the store on Linden Road will close sometime in late June.
The Genesee Valley Center management issued a statement Thursday afternoon lamenting the loss of an anchor store, which had been part of the mall since it opened in 1971.
Senior General Manager Miles McFee pointed out Sears has a unique relationship with the mall, in which the company owns its store and the surrounding parking lot. So mall management is planning to work closely with Sears Holdings on the future of the property.
"We cannot comment as to what is next until the matter is resolved with them," McFee said.
Sears Holdings, which owns Kmart and Sears stores, announced a continuing trend of declining revenue and increasing financial losses on Thursday.
The company reported losing $424 million in January through March while revenue fell to $2.9 billion, down from $4.2 billion during the same time period a year ago.
Sears Holdings said it has identified 100 stores that no longer are profitable and 72 of those are on the list of closings. Other Michigan Sears locations closing include Dearborn, Sterling Heights and Traverse City.
The Sears location at the Fashion Square Mall in Saginaw will remain open. Only 12 Sears department stores will remain in Michigan after the closures, not counting dozens of franchised Sears Hometown stores.
The company also has announced plans to sell its Kenmore line of appliances and partner with Amazon.com to sell tires in an effort to stay afloat financially.
See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close.
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