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Sears to Close 46 Stores This Fall
The struggling department store is beginning liquidation sales this week.
Sears Holding has announced its third round of store closings this year.
Hoffman Estates, Ill.—Sears Holdings Corporation is shuttering more stores.
The company announced it will close 46 unprofitable locations in November—33 Sears stores and 13 Kmart stores.
In a statement, the retailer said the move was made “as part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus on our best stores.”
The company also said eligible store associates will receive severance and be able to apply for open positions at other Kmart and Sears locations.
Liquidation sales will commence at the locations going out of business on Aug. 30.
Kmart’s closures are spread around the country, with the most locations—four total—shutting down in California. Sears closures are similarly widespread across the nation, with three apiece in Florida, Georgia and New York.
The full list is available online.
RELATED CONTENT: Report: Sears Lays Off 220 at Corporate OfficesAfter shutting down more than 70 locations last year, Sears announced in January it would shutter 103 doors and in May that it would close an additional 72 stores.
News of the latest round of cuts sent stocks to their lowest level since Sears merged with Kmart in 2005, according to CNN Money.
However, Sears rebounded this week when it announced it was expanding its tire purchase and installation program with Amazon.
Originally launched in May, the program provides full-service tire installation and balancing for customers who buy any brand of tire on Amazon.com. It’s now available around the country, even in Alaska and Hawaii.
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