Sears Holdings Inc. announced its plans to close 46 more stores as part of its ongoing efforts to streamline its operations, strengthen its capital position and focus on its best stores. Stores are expected to close by November.
“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” the company said in a statement.
Liquidation sales will begin Aug. 30 at the stores that are closing. In June, it announced it was closing 72 more stores, saying it had identified a total of 100 unprofitable locations.
In January, Sears Holdings announced it was closing 100 stores in 2018, including 64 Kmart locations and 39 Sears locations.
On Aug. 16, Sears Holdings CEO Edward Lampert entered a bid of $400 million to acquire the Kenmore brand, in a letter to the Sears board, offering to pick up the Sears Home Services division for $70 million to $80 million.