Posted on August 31, 2018

Sears to close 46 stores in November

On August, 2018

It is a tough time for retail and especially for Sears Holdings Corp. who is pulling the plug on more retail locations. The department store operator announced that it will close 13 Kmart stores and 33 Sears stores by November. The 46 store closures will take place across the U.S. The news follows previously reported plans to close hundreds of other locations. The company said in January that it would close 100 stores and again, another 100 store closings were announced in May. Liquidation sales will take place at the closing locations as of next week. Sears currently operates over 800 stores compared to the end of last year where they operated about 1,000. Sears has also been exploring options to sell its Kenmore appliance brand and divisions of its home services business as a way to raise money, particularly a bid from Lampert's hedge fund, ESL Investments, to buy Kenmore from Sears for $400 million, and its Sears Home Services division for between $70 million and $80 million.

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