- An internal Sears document reveals how store managers were instructed to inform employees of upcoming closures and layoffs.
- The document contains a script for 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, but after exhaustive discussions and weighing of all alternatives, this store will begin the liquidation process soon."
- Sears announced on Thursday that it plans to close 96 Sears and Kmart stores in February.
- Visit Business Insider's website for more stories.
An internal Sears document reveals how the company broke news to employees in an upcoming round of 96 store closures and layoffs.
The document contains a script for managers to read to employees during a staff meeting.
"Transformco has faced challenges since the acquisition of essentially all assets of Sears Holdings Corporation in February," the script instructs executives to say, according to a copy of the document reviewed by Business Insider. "Unfortunately, these challenges have 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 was taken very seriously, but after exhaustive discussions and weighing all alternatives, this store will begin the liquidation process soon. "
The script explains the liquidation process: a consultant will come to the store in mid-November, a pre-sale will begin November 1
"I want to thank you or all of your dedicated services to this store and express our appreciation of all your contributions. At this time, I will open the floor for questions."
When Transform Holdco bought Sears out of bankruptcy in February, the company has about 400 Sears and Kmart stores. After the latest round of store closures is complete, the company will have 182 stores still in operation.
In a statement on Thursday, Transformco said that the company "has faced a difficult retail environment and other challenges" and that it was "pruning business that has struggled due to increased competition and other factors."
Read the full script below:
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