Nation & World

Sears to close more stores

46 unprofitable locations will shutter in November

FILE PHOTO: Sears Kenmore washing machines are shown for sale inside a Sears department store in La Jolla, California, U.S., March 22, 2017.    REUTERS/Mike Blake
FILE PHOTO: Sears Kenmore washing machines are shown for sale inside a Sears department store in La Jolla, California, U.S., March 22, 2017. REUTERS/Mike Blake

Sears Holdings Corp. continues to clean house, announcing plans to shutter an additional 46 unprofitable stores in November.

The struggling chain this week informed workers at the affected stores, and liquidation sales will begin as early as Aug. 30.

The move is “part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus on our best stores,” Sears said on its website.

The list of affected stores includes 13 Kmart stores and 33 Sears sites. The new shutdowns, which also affect several affiliated Sears Auto Center locations, include states across the country.

Sears has 17 stores still operating in Iowa, none in the Corridor. None are part of the new closures.

The once-dominant retailer has been taking steps in recent years to strengthen its balance sheet, including the sale of its Craftsman tool brand last year to Stanley Black and Decker and an agreement to sell Kenmore and DieHard products through Amazon.com.

For years, CEO Edward Lampert has used his own money to keep Sears afloat amid declines in store traffic and sales. The company already has closed hundreds of stores and shaved more than $1 billion from annual expenses.

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