Business & Tech
Kohl's Announces Closure of 18 Stores
It is not yet known which locations will be among those to close later this year.
BEDFORD, MA - Kohl’s announced Thursday that it will be closing 18 stores in 2016, which could include any of the 24 locations in Massachusetts.
The company announced the decision to close 18 under-performing stores in its fourth-quarter financial statement released Thursday.
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“While the decision to close stores is a difficult one, we evaluated all of the elements that contribute to making a store successful, and we were thoughtful and strategic in our approach. We are committed to leveraging our resources on our more productive assets,” Kevin Mansell, Kohl’s chairman, president and chief executive officer said in the financial statement.
Mansell also said that all store employees affected by the closures would be offered employment at a nearby Kohl’s location or a competitive severance package.
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Kohl’s expects to announce the 18 stores that will be closing by the end of March.
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