Sears Closing Another 46 Unprofitable Stores In November
HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. is closing another 13 Kmart stores and 33 Sears stores as sales shrink and losses grow.
The ailing company said liquidation sales at the 46 unprofitable stores marked for closure will start Aug. 30, according to the company website.
They'll close in November.
The company said Thursday it informed its workers.
In January, Sears said it was closing 100 stores. It announced in May that it was closing another 100.
The move comes as Sears is considering a bid from CEO Eddie Lampert's hedge fund ESL Investments to acquire its jewel Kenmore appliances from the company for $400 million.
As of May, the retailer had about 800 stores, down from about 1,000 at the end of last year and far below the 2012 peak of 4,000 stores.
Only two stores in Illinois - in Steger and Bloomington - are part of the November closures.
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