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Sears Corp. Is Closing 63 Stores

The 'holiday blowout' has started early
By Newser Editors and Wire Services
Posted Nov 4, 2017 6:42 AM CDT
Dozens More Sears, Kmart Stores to Close
The Sears store in St. Eustache, Quebec.   (Ryan Remiorz/The Canadian Press via AP, File)

(Newser) – Sears Holdings Corp. says it will be closing another 63 stores as the ailing retailer tries to turn around its business. The Illinois-based company, struggling to keep up with its rivals, said it will shutter 45 Kmart stores and 18 Sears stores in late January, the AP reports. Liquidation sales will start as early as next Thursday. The move comes in addition to the closing of about 250 stores already announced this year. Meanwhile, Sears launched a "holiday blowout" sale at both chains that began Wednesday and will last until Nov. 25, a day after Black Friday. Sears has been selling off some its real estate and brands as it tries to raise cash. Shares of Sears fell nearly 4%, or 20 cents, to $5.23 in trading Friday. (Read more Sears stories.)

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