Sears Holdings told employees it plans to close more than 100 stores this year, including 64 Kmart locations and 39 Sears stores, most likely between March and April. Liquidation sales in affected stores will begin this month.
CNBC reported that Sears didn’t say how many employees would be impacted by the closings, but a majority of the jobs are part-time positions and eligible employees would receive severance.
“We will continue to close some unprofitable stores as we transform our business model so that our physical stores footprint and our digital capabilities match the needs and preferences of our members,” Sears said in a statement.
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