Sears, Kmart stores closing in Iowa

Sears Holdings is laying off at least 5,457 workers and closing more than 100 Kmart, Sears and Sears Auto Center locations, including three stores in Iowa, according to data from SeekingAlpha.com.

The Hoffman Estates, Ill.-based retailer will close Kmart stores in Ames and Clive in early December, idling a total of 93 employees. The Sears store and Sears Auto Center in Fort Dodge will close in early January, eliminating 41 jobs.

Inventory liquidation began last month at the Kmart stores in Ames and Clive and will start Oct. 31 at the Sears store in Fort Dodge.

SeekingAlpha.com reported inquiries with stores and mall managers across the country reveal that at least 46 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers are scheduled to close before the end of January.

In statements to local media in the affected communities, Sears said the closures were part of an effort to 'reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business model.'

The closings add to the 96 stores Sears Holdings announced it had closed in the first half of fiscal 2014. That compares with 93 locations shuttered in 2013.

Sears revenue has fallen for 30 straight quarters. The company has posted losses of more than $1.8 billion over the past four quarters, and Sears shares have lost more than a third of their value over the past year.

Bloomberg reported earlier this month that at least one vendor has halted shipments to the company. Bloomberg added that insurers have cut coverage for Sears' suppliers, raising questions about the company's ability to secure merchandise for the holiday period.

Sears continues to operate full line stores in Cedar Rapids, Davenport, Des Moines, Mason City, Sioux City and Waterloo. 

Kmart operates stores in Iowa City, Waterloo and 15 other Iowa communities.