June 8, 2017 Comments Off on Sears Planning to Close Another 66 Stores Views: 871 California News, Top California Stories

Sears Planning to Close Another 66 Stores

Hoffman Estates, IL-based Sears Holdings Corp. reportedly plans to close another 66 Sears and Kmart stores across the country, as part of the company’s “operational restructuring efforts.” The locations targeted for closure includes 17 Sears stores and 49 Kmart stores, including four in California.

Though not yet publicly announced, stores that made the list in the Golden State included a Sears in Chico and Kmart’s in Blythe, Sacramento and Manteca. Sources indicated the planned closures would take place in July for the Sears store, and in September for the rest.

In an effort to find solid footing, the retailer has closed more than 1,000 stores in recent years, and earlier this year sold its Craftsman tools brand to Stanley Black & Decker for roughly $900 million. Earlier this spring, Sears noted in SEC filings that it had doubts about its survival, though dismissed the warning as required regulatory language.

Read more at LA Times

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