Sears at Westfield Palm Desert will close in early 2020. The store made the new list of closures released Thursday by Transformco, which purchased the assets of Sears Holdings Corp. in February.
Going-out-of-business sales are expected to begin Dec. 2 with the store closing by February, a Transformco press release states.
It wasn’t immediately known how many people the Palm Desert store currently employs.
The Palm Desert store, which opened at Westfield in 2004, is among 96 Sears and Kmart stores that Transformco announced would be closing – more than one-third of its remaining large-format stores.
Transformco acquired the Sears and Kmart retailers out of bankruptcy earlier this year. The latest list of closures includes 51 Sears stores and 45 Kmart locations. The Desert Hot Springs Kmart – the last remaining Coachella Valley location – is not on the list.
Indio's Kmart closed in December 2016.
After the 96 closures, Transformco will continue to operate 182 stores, saying it has lined up $250 million in new financing.
“We will endeavor to create and deliver value through a strategic combination of our better-performing retail stores and our service businesses, brands and other assets, and expect to realize a significant return on our extensive portfolio of owned and leased real estate,” Transformco said in its press release.
Assets include Innovel, which provides logistics solutions to businesses and consumers, Sears Home Services as well as Shop Your Way and financial services, and the Kenmore and DieHard brands, Transformco said.
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“These businesses will also benefit from the recent acquisition by an affiliate of Transformco of Sears Hometown – a network of more than 400 independently-owned and operated, dealer-managed smaller-format stores that are known for offering customers a range of home products, including appliances, lawn and garden, tools and sporting goods,” officials said.
Over the past 15 years, more than 3,500 Sears and Kmart stores have closed and about 250,000 jobs cut, as brick and mortar retailers, especially the big box stores, struggle to compete with online sales.
Last month, Forever 21 announced the closure of several of its stores, including The River at Rancho Mirage location, after filing bankruptcy.
Sears and Kmart have been ailing for years. The former parent company filed Chapter 11 bankruptcy in October 2018 and in February entered into a last-minute deal arranged by Eddie Lampert, the company’s longtime chairman, CEO and investor, and his hedge fund ESL Investments.
Sears first came to the Coachella Valley in the 1960s, opening a newly built one-story store in Indio. That store was closed when it relocated to Palm Desert.
USA Today reporters Nathan Bomey and Kelly Tyko contributed to this report. Desert Sun reporter Sherry Barkas covers the cities of La Quinta, Indian Wells, Rancho Mirage and Palm Desert. She can be reached at sherry.barkas@thedesertsun.com or (760) 778-4694. Follow her on Twitter @TDSsherry
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Sears at Westfield in Palm Desert will close in early 2020 - Desert Sun
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