Transformco to Close Sears Store in Ft. Lauderdale, Fla.
Property Sold to RK Centers, which Plans to Develop Residential Towers
21 Jan, 2022, 21:52 ET
HOFFMAN ESTATES, Ill., Jan. 21, 2022 /PRNewswire/ -- Today, Transformco announced that it will permanently close the Sears store located at 901 North Federal Highway in Ft. Lauderdale, Fla. effective at end of business today. Additionally, Transformco has sold the land site adjacent to the store where it has operated for the past several decades to RK Centers, which is planning a mixed-use development for the site.
"We want to thank the loyal customers in the Ft. Lauderdale area for their many years of support and remind them to shop at our other Florida locations and on sears.com," said Jesse Gonzalez, Vice President of Store Operations at Sears.
Transformco's go-forward store strategy for Sears and Kmart is to operate a diversified portfolio consisting of a small number of larger, premier stores with a larger number of small format stores – combined with its Shop Your Way rewards program, online marketplace and buy online, pick up in store capabilities. The company will continue to explore both Hometown Stores and Home & Life stores in cities and towns that previously had larger format stores.
In addition to this retail and real estate strategy, Transformco's business has evolved with an emphasis on growth of the Home Services business; brands such as Kenmore and as a licensee of DieHard; and Fintech through its Shop Your Way rewards program.
Transformco is a privately held company with five core businesses: A real estate portfolio of 51.4 million square feet; Sears Home Services, the nation's largest appliance repair provider; the Shop Your Way® loyalty and credit card program; Transform Brands, home of Kenmore and a licensee of DieHard; and Sears and Kmart full-line stores, specialty stores and online operations.
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