- The document contains a script for the managers to read to employees during a staff meeting.
- "The decision has been made to close our store," reads the script, which was shared with store managers this week. "I can assure you that this decision is one that was taken very seriously, however, after exhaustive discussions and weighing all the options, this store will begin the liquidation process shortly."
- Sears announced Thursday that it plans to close 96 Sears and Kmart stores by February.
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An internal Sears document reveals how the company broke news to employees of an upcoming round of 96 store closures and layoffs .
The document contains a script for the managers to read to employees during a staff meeting.
"Transformco has faced challenges since the purchase of substantially all of the assets of Sears Holdings Corporation in February," the script instructs managers to say, according to a copy of the document reviewed by Business Insider. "These challenges have unfortunately affected performance and limited the company's strategic choices.
"This brings me to a very tough conversation. The decision has been made to close our store. I can assure you that this decision is one that was taken very seriously, however, after exhaustive discussions and weighing all the options, this store will begin the liquidation process shortly."
The script explains the liquidation process: a consultant will arrive at the store in mid-November, a presale will start Nov. 17, and liquidation will begin on Dec. 2. The store will remain open until February 2020, the script states.
"Our goal is open and honest communication," the script states. "Within the next two weeks, a market or regional representative will be coming to our store to address our closing specifics and to answer any questions you may have. In addition, the market or regional representative will distribute to each of you a written notice informing you of the store closing. You will be asked to sign this notice indicating you have been informed.
"I want to thank you or all of your dedicated service to this store and express our appreciation of all your contributions. At this point I will open the floor to questions."
When Transform Holdco bought Sears out of bankruptcy in February, the company had roughly 400 Sears and Kmart stores. After the latest round of store closures is completed, the company will have 182 stores remaining in operation.
In a statement Thursday, Transformco said the company "has faced a difficult retail environment and other challenges" and that it was "pruning operations that have struggled due to increased competition and other factors."
Read the full script below:
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