Sears Will Close Another 96 Stores Despite Millions in New Capital
On Thursday, Sears’ owner Transformco announced that it had successfully secured $250 million in new capital. But the company also announced that it would be closing another 96 Sears and Kmart stores by February of 2020. That will bring the total footprint to 182 stores, down from almost 700 before Sears filed for bankruptcy.
Sears, once the dominant big box retailer with thousands of stores around the United States, continues to see its footprint decimated as its owner fights to bring it back from the brink.