Sears Holdings, parent company of Sears and Kmart stores, told its employees Thursday that it will be closing more than 100 additional stores this year.
That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to shut between early March and April.
“We will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members,” the company said in a statement.
Sears wouldn’t say how many of its employees would be impacted by the closings but did say the majority of the jobs are part-time positions, and eligible associates will receive severance.
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