Sears to close Peoria Kmart

Sep 24, 2014

The city of Peoria will lose a nationwide retailer before Christmas. Sears Holdings Corporation announced Wednesday it’s closing its Kmart store at 901 West Lake Avenue in early December.

A statement from the company says the store closure is part of a series of actions to reduce ongoing-expenses, adjust its asset base and accelerate the transformation of its business model. A liquidation sale will begin this Sunday.

The Peoria Kmart store has more than 70 employees. A Sears spokesman says eligible staff members will receive severance, and have the opportunity to apply for open positions at area Sears or Kmart stores.

The Kmart stores in Pekin and Morton will remain open.