The Sears store and auto center at the Broadway Square Mall in Tyler will close its doors by mid-December.
Management told employees on Thursday that the company is closing and announced that a store liquidation sale would start Sept. 21.
The announcement came on the same day that the publicly traded parent company, Sears Holdings, reported its earnings, which showed continued losses.
“We have been strategically and aggressively evaluating our store space and productivity, and have accelerated the closing of unprofitable stores as previously announced,” a Sears spokesman said in a statement.
“This is not an effort solely aimed at cost savings but is part of a strategy we have been executing against as many of our larger stores are too big for our needs,” the statement said. “Having fewer stores — and the right format — will help us bring Sears Holdings to a size and place to meet the realities of the changing retail world.”
Sears Holdings Corp., which also owns Kmart, has been closing stores by the dozens in recent months. The parent company announced 72 store closings in May and another 46 in August. The Tyler location was not on either of those lists.
Sears Holdings sold the Craftsman brand of tools to Stanley Black & Decker in early 2017 and, earlier this year, began exploring whether to sell the Kenmore brand of appliances, among other assets.
In May, the owners of the Broadway Square Mall received zoning approval from the city of Tyler to tear down the Sears building and add new retail space in a separate building on the southern part of the property, where Sears currently sits.
Despite those planned changes, a spokesman for Sears Holdings said in May the company did not plan to close the store. "We have a multiyear lease at the store and we plan to continue serving our customers and members in Tyler,” the spokesman said at the time.
The statement on Thursday did not disclose how many employees would be affected by the store's closing, but said eligible employees would receive severance packages and be able to apply for open positions at nearby Sears or Kmart stores.
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