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Sears Adds Another 10 Unprofitable Stores to September Closing List; Tally Now Stands at 78

Liquidation Sales Already Underway at Most Doomed Sears and Kmart Stores
July 2, 2018
The 100-store closing process for Sears and Kmart stores is moving into full throttle as parent company Sears Holdings announced late last week that 10 more would join the list of stores to be shuttered by September.

As of now, 78 stores have been identified, with liquidation efforts already underway at 63 stores. Close-out sales at the remaining 15 are slated to begin as early as July 13, according to a Sears Holdings statement about which stores would be shuttered.

The company first announced the closings of the "nonprofitable" stores on May 31, in tandem with its pre-recorded first-quarter conference call, noting that the decision was a "difficult, but necessary" one to help it stem the multi-year tide of sinking sales and losses.

Stores employees have been told in batches if and when their stores would go dark. Last week’s add-on included nine Sears stores and one Kmart, putting the totals at 62 Sears locations and 16 Kmarts. The list, which initially included 63 stores that would be closed in early September, was updated to 68 stores in early June before tacking on the other 10 last week.

Jennifer Waters, Chicago Reporter  CoStar Group   
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