By 2018, Sears Holding Corp. filed for Chapter 11 and even more stores went dark as part of a restructuring effort. - DEPOSIT PHOTOS
By 2018, Sears Holding Corp. filed for Chapter 11 and even more stores went dark as part of a restructuring effort. - DEPOSIT PHOTOS
Kimberly Redmond//January 8, 2024//
The last remaining Sears store in New Jersey is closing for good.
Located at Newport Centre in Jersey City, the once-prominent department store chain began liquidating, but has not yet announced its final day of business. In a Jan. 5 social media post, Sears advertised discounts of 25% to 70% and encouraged shoppers to stop in for “great bargains.”
Once the largest retailer in the U.S. with more than 4,000 stores and 350,000 employees, Sears’ footprint has dwindled to about a dozen locations thanks to the rise of online shopping as well as competition from big box retailers Target and Walmart.
It was acquired by Kmart in 2005 for $12.3 billion and the companies merged to create Sears Holding Corp. However, the entity continued to face financial difficulties and declining sales, prompting a series of closures of both Kmart and Sears stores.
By 2018, Sears Holding Corp. filed for Chapter 11 and even more stores went dark as part of a restructuring effort. The following year, integrated retailer Transformco Holdco purchased the assets and began wiping out additional locations.
The parent company now operates fewer than 20 stores in the U.S.: 13 Sears locations and two Kmart sites. Within New Jersey, Kmart’s presence went from 11 stores to none, with the last-standing outpost in Westwood closing last fall.
Jersey City has housed the state’s lone Sears since 2020, when the chain shuttered its locations in Hackensack and Rockaway. The banner’s six other stores in the state – Wayne, Freehold, Woodbridge, Livingston, New Brunswick and Moorestown – closed between 2018 and 2019.
A representative for Sears’ parent company, Transformco, did not immediately respond to a request for comment.
The closure at Newport Centre comes as international value fashion retail giant Primark prepares to launch at the mall.
The chain – which is known for its affordable everyday essentials and trendy apparel for women, men and children; beauty products; homewares; and accessories – has not yet announced an opening date. In New Jersey, Primark also has stores at Freehold Raceway Mall in Freehold, American Dream in East Rutherford and The Mills at Jersey Gardens in Elizabeth.