Ten Sears and 68 Kmart stores will close around the U.S. this summer, including four locations in the central part of California, Sears Holdings said. Thursday’s announcement comes after the company said in February that it would “accelerate” the closing of unprofitable stores, a news release posted on the Sears Holdings website stated. The closures are based on historical and recent store performance, as well as when the lease is up.
“The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability,” Edward S. Lampert, the chairman and CEO of Sears Holdings, said in the release. Nearly all of the stores will shut down in late July, with the exception of two Kmart locations that will close in mid-September. READ MORE