WPBN: According to Kohl’s Corporation, the Stoughton location will be shut down by the beginning of 2025, which will result in the termination of more than seventy employees.
The announcement comes just a few weeks after the company submitted a “For Lease” listing online for its facility in Stoughton at 501 Technology Center Dr., and then shortly after that, the company filed a public notice informing the public that 77 employees would be terminating their employment effective February 7.
Court documents indicate that the department store company had a total of 26 sites in the state of Massachusetts at the beginning of this year. As of the month of December, Kohl’s has a total of 25 locations in the state of Massachusetts, as indicated by their store locator. However, once the Stoughton shop is formally closed, the number of locations will decrease to 24.
According to the description for the lease, the Stoughton shop has a total square footage of 89,136 feet, three loading docks, and is described as being in “excellent condition.”
Additionally, the lease advertising portrays the space as being available for lease as early as January 2025, despite the fact that all 77 layoffs are scheduled to take effect before February 7th.
According to the Boston Business Bureau, Bethany Keller, Senior Vice President for Human Resources at Kohl’s, stated that it is possible that one or more employees will continue to be employed temporarily after the site is closed “to assist with administrative tasks.”
According to the publication, the roles that will be eliminated include those in the areas of merchandising, operations, service associates, and beauty adviser representatives.
Kohl’s remarkable history of both triumph and adversity
The very first Kohl’s department store opened its doors in Wisconsin in 1962, and by 1992, the company had expanded to 76 locations across the Midwest.
Almost immediately after that, in the year 2001, the corporation opened its website at Kohl’s.com.
Kohl’s now has more than 1,100 locations throughout 49 states, according to a statement released by the firm. “That growth and expansion continued over the years,” the statement was written.
On the other hand, its momentum has slowed down in recent years.
At the beginning of this year, Reuters reported that the chain was on the verge of experiencing “its worst day ever.” The company attributed some of the challenges that the company has to economic difficulties and its reliance on other brands that generate sales rather than concentrating on expanding its own brand.
Walgreens Continues Bay Area Store Closures with 3 More Locations Closing
According to the analysis that was released in May, Kohl’s shares experienced a decline of up to 26% in the first quarter of 2024 when compared to the first quarter of 2023.
However, indications of difficulty appeared much earlier. Forbes reported in January that the company has been experiencing financial strain ever before the epidemic “as consumer buying habits have shifted away from department stores.” This was the first time that the corporation had been experiencing difficulties.
2023 saw a decline in earnings of more than forty percent year-over-year, while sales dropped by five percent in the first month of the year.
