Sears, Kmart Closing More Stores
SEARS ANNOUNCES ANOTHER 96 STORES WILL CLOSE; GOING OUT OF BUSINESS SALES TO START DECEMBER 2 AT AFFECTED LOCATIONS
(CNN) – Sears, once the dominant big box retailer with thousands of stores, continues to shrink as it tries to emerge from bankruptcy.
The company says it will get through the Christmas season, but expects to be forced to close another 96 Sears and Kmart stores in February.
Going out of business sales will start December second for those locations.
This continues a trend that has been accelerating for months.
Following this group of closures in February 2020, Sears will operate just 182 stores.
That’s down from the nearly seven hundred stores it had when it filed for bankruptcy in October of last year.
The store closings are spread across thirty states.
The company said all eligible store workers will be offered the same number of weeks of severance as offered before the bankruptcy filing.