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Sears, Kmart Closing More Stores In February

10 November 2018

Also slated to close is a Sears store in Marquette Mall in Michigan City, Ind. Liquidation sales at the stores are expected to begin next week. According to Business Insider, by February 2019, when the latest Sears store closures will be completed, there will be only about 500 Sears and Kmart stores still in business.

Sears, which operates both its namesake department stores and the Kmart discount chain, is trying to reorganize in Chapter 11 bankruptcy and said last month that it will close 142 unprofitable stores. The number of stores had peaked in 2012 at 4,000, including its Sears Canada division that was later spun off.

Fewer than 90,000 people still worked for Sears Holdings earlier this year, down from 350,000 in decades past.

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Company officials have blamed a variety of factors, including competition from online vendors and a change in consumer buying habits.

Sears Holdings is shutting down another 40 stores as the once dominant player in retail struggles to survive in bankruptcy.

A Sears Holdings spokesperson could not be reached immediately to comment on the closure or the number of workers affected.

Sears, Kmart Closing More Stores In February