Sears stores in Long Beach, Los Angeles and Orange will be shuttered in the coming months as part of the latest wave of Sears and Kmart closures.
Transformco acquired the struggling retailers out of bankruptcy nearly two years ago, and at least 18 Sears and eight Kmart stores are scheduled to close by mid-April. Liquidation sales are expected to end at a handful of additional stores by late February.
Scott Carr, Transformco’s president, said the company “continues to pursue opportunities to create value from its real estate portfolio and to partner with retailers, property owners and communities as part of the ongoing reinvention of retail real estate.”
The latest Southern California Sears closures:
- Long Beach: 2100 North Bellflower Blvd.
- Los Angeles: Boyle, 2650 E Olympic Blvd.
- Orange: Village at Orange, 2100 N. Tustin St.
The Sears in Long Beach was formerly a Broadway department store before being acquired by Sears in 1995. It was the 31st Sears location in the Los Angeles area. Increased competition from other big-box retailers, shifts in consumer spending and the rise of e-commerce buying have whittled away the retailer’s profits.
Long Beach will be hit with a double whammy, as the Kmart at 2900 Bellflower Blvd. is also set to close April 18.
City Councilman Daryl Supernaw said the Sears news came out of nowhere.
“We just learned about it yesterday,” he said. “With Sears closing and the Kmart just up the street also closing … that’s a lot of square footage. Our city department will really have their work cut out for them. We’re always hopeful.”
Supernaw noted that Long Beach has been successful in bringing auto dealerships, restaurants and other retail to the area surrounding the Los Alamitos Traffic Circle, a well-known roundabout at the intersection of Lakewood Boulevard and Pacific Coast Highway.
The closure in Orange will mark the end of the last traditional Sears store in Orange County. Built as a standalone store in 1967, it became the original anchor at the Orange mall, which debuted in 1971. The store is set to close April 18.
Is the slow and painful decline of Sears and Kmart finally coming to an end?
“One can only hope,” said Bob Phibbs, CEO of The Retail Doctor, a New York-based retail consulting firm. “It’s like Glenn Close at the end of ‘Fatal Attraction.’ They just keep coming back.”
Scores of brick-and-mortar retailers – including Circuit City, Borders and Mervyns – have gone out of business, while others have reduced their footprint and beefed up their online presence amid the rise in e-commerce.
USA Today reports that Macy’s plans to close 36 locations this year, as well as one Bloomingdale’s store. J.C. Penney will be closing additional locations as well, and Bed, Bath & Beyond will shutter 43 stores by the end of February.
Still, Phibbs said consumers will be eager to return to stores once COVID-19 is in the rearview mirror.
“Most brick-and-mortar outlets will do fine over the two or three years,” he said. “People are tired of curbside pickup and delivery. There’s nothing like discovering something new in your local neighborhood.”
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