CRYSTAL LAKE – Kmart plans to close its Crystal Lake store before the end of November.
Signs announcing the closing and related liquidation sale went up Sept. 7. The 107,497 square-foot store in the Crystal Point shopping center at 6000 Route 14 will be shuttered by Nov. 16 or the following week, a store employee said Tuesday.
Starting Wednesday, the store will be open 9 a.m. to 9 p.m. Monday through Saturday and from 10 a.m. to 7 p.m. Sunday, according to signs posted at the store.
The Kmart pharmacy's last day will be Sept. 16. Medical records will be transferred to the pharmacy at Target in Crystal Lake by Sept. 17, according to the signs.
"Store closures are part of a series of actions we’re taking to reduce on-going expenses, adjust our asset base and accelerate the transformation of our business model," Howard Riefs, director of corporate communications for Sears Holdings, said in an email to the Northwest Herald. "These actions will better enable us to focus our investments on serving our customers and members."
The Crystal Lake store has 77 employees. Most work part-time. Employees who are eligible will get severance and have the opportunity to apply for open positions at area Sears or Kmart stores, Riefs said.
Riefs said the store would close in late November.
Kmart, which is owned by Hoffman Estates-based Sears Holdings Corp., has been struggling financially. In December, the company said that it would close 100 to 120 Sears and Kmart stores to raise cash.
Kmart is obligated until the end of its lease with the shopping center, said Beth Hicks, assistant vice president and director of marketing for Inland Commercial Property Management Inc. She said Inland was seeking replacement tenants.
Crystal Lake officials also are working to find new retailers for the shopping center.
"The city is working closely with the property owner, Inland Real Estate, and is in conversations with a number of retailers who are interested in the Crystal Point Shopping Center," said James Richter II, the city's planning and economic development manager. "I don’t anticipate that this space will be vacant for very long."