JAMESTOWN - The list of stores closing for Kmart and Sears was expanded last month, but two local retail outlets are still not included.
On Dec. 27, 2011, Sears Holdings Corp., parent company of Kmart and Sears, said 100 to 120 stores in the United States and Canada will be closing to trim costs after a poor holiday shopping season.
The initial list, which was released in January, had 81 stores listed, but didn't include the Kmart located along Fairmount Avenue or the Sears in the Chautauqua Mall.
On Feb. 23, the closing list was expanded by 15 stores. Again, both local businesses were not included on the list.
The Warren, Pa., Kmart also wasn't on the list of stores that would be closing.
No Kmart or Sears in the state of New York made the list.
Company officials expect the store closures to generate $140 to $170 million in cash as the net inventory in the stores is sold. They also expect to generate additional cash proceeds from the sale or sublease of the related real estate.
Sears officials said in addition to the specific store closures, they will carefully evaluate store performance going forward and act opportunistically to recognize value from poor-performing stores as circumstances allow.
The list of stores closing is posted at www.searsmedia.com.