Sears Holdings to Close 78 Kmart, Sears Stores This Summer

HOFFMAN ESTATES, ILL. — Sears Holdings will close 68 Kmart and 10 Sears stores this summer, 23 of which are located in the Midwest. In February, the company, which is based in the Chicago suburb of Hoffman Estates, announced it would accelerate the closing of unprofitable stores. The majority of the store closings will take place in July. The closing Kmart and Sears stores will start their liquidation sales on May 12 and April 29, respectively. Associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at other area Kmart or Sears stores. Sears Holdings expects the store closures to generate a meaningful level of cash from the liquidation of store inventory and from the sale or sublease of some of the related real estate. A complete list of store closures can been found here.