Sears to close another 63 stores

FILE- In this Nov. 9, 2012, photo, a Sears store is shown in Hialeah, Fla. Sears Holdings Corp. is announcing that it will close 68 Kmart stores and 10 Sears stores as it struggles to restore profitability. (AP Photo/Alan Diaz, File)

NEW YORK (AP) — Sears Holdings Corp. says it will be closing another 63 stores as the ailing retailer tries to turn around its business.

The Hoffman Estates, Illinois-based company, struggling to keep up with its rivals, said it will shutter 45 Kmart stores and 18 Sears stores in late January.

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 percent, or 20 cents, to $5.23 in trading Friday.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s