Sears to close more than 100 stores, including Kmart locations, in March and April
Sears Holdings Corp. said Thursday that it is closing more than 100 stores in March and April of this year. Sixty-four of the stores will be Kmart locations and 39 will be Sears. Eligible associates will receive severance packages and can apply for open positions at nearby locations. The number of associates affected is not available, according to a Sears spokesperson, who says most of the jobs are part-time positions. Liquidation sales at the impacted stores will begin as early as Jan. 12. The store closures will be nationwide. There were 1,104 stores, 510 Kmart stores and 594 Sears stores, as of Oct. 28. Sears shares are down 4.5% in Thursday trading, and down 65.4% for the past year. The S&P 500 index is up 20% for the last 12 months.
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