Sears Holdings Corp. will close another78 stores — 68 Kmart units, and 10 Sears stores — as it looks to restore profitability.
That accounts for about 5 percent of its store base, which is nearly 1,700 stores.
The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a "challenging" holiday season. The move announced Thursday is expected to generate a "meaningful level" of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday.
All 10 Sears stores and nearly all the Kmart stores will close in late July. Two Kmart stores will close in mid-September.
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6 comments:
In ten years you will seldom hear the word "Sears".
Sears in the mall might as well go ahead and close tomorrow. No one ever in there.
8:36-I rarely hear it now.
The Future: Malls will be the next low-cost housing areas in the country; Taxi service? Done. Bookstores? Done. Travel agencies? Done.
Read the writing on the wall. All these businesses are done, thanks to the Internet.
No surprise here.
I went to the Salisbury Mall Sears last week to buy a couple of shovels and a contractor's rake. They've taken all of the items like that out of the store and mostly just have power equipment left in the lawn & garden department. I was advised by the sales staff to go online to buy them.
Can you blame them?
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