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Sears closing these 142 stores in bankruptcy filing and liquidation sale

October 15, 2018 cbsnews Leave a Comment

Sears Holdings Corp. will attempt to turn around its now-bankrupt business with even fewer stores by the end of the year. The onetime dominant force in retail will close 142 unprofitable or underperforming Sears and Kmart stores in the next few months, with liquidation sales at those locations expected "in time for holiday shopping," Sears said in a statement announcing its bankruptcy filing.  The closings are in addition to the previously announced shutterings of 46 money-losing stores expected to be complete by next month, the retailer said. The latest list of closures includes 79 Sears stores and 63 Kmart outlets. (Go to the end of this story for the list of closed stores.) As Sears Holdings explained in a filing Monday with the bankruptcy court: "Of the initial closing stores, 98 were unprofitable in fiscal year 2017 and 44 produced flat or marginal profits in fiscal year 2017 or are trending downwards in 2018 due to local market and competitive factors." The company did not … [Read more...] about Sears closing these 142 stores in bankruptcy filing and liquidation sale

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