JACKSON, Wyo. (KIFI/KIDK)- TransformCo has announced plans to close the Jackson, Wyoming K-Mart store on US Highway 89 by February 2020.
The company purchased Sears Holdings Corporation in February 2019. Since then, TransformCo said it has faced a difficult retail environment. In a news release, the company said it was working to position for success by focusing on strengths and "pruning operations that have struggled due to increased competition and other factors."
Company owners and a third-party investor have provided about $250 million in new capital. But officials said it was still necessary to close 96 Sears and Kmart stores across the country.
Going-out-of business sales are expected to begin December 2.
The company will continue to operate 182 Sears and Kmart stores, while continuing to evaluate its overall retail and service strategy.
An affiliate of TransformCo recently acquired Sears Hometown, a network of more than 400 independently-owned and operated stores.