Report: Sears Holdings To Close An Additional 80 Stores

Sears Holdings will shutter an additional 80 locations under its Kmart and Sears banners as the retailer continues to operate while its bankruptcy proceedings move forward.

News of the latest round of store closings was reported by CNBC, which noted that liquidation of the venerable retailer may still be a possibility.

According to the report, Sears officials spread news of the additional store closings to employees on Thursday, December 27.

When the retailer filed for Chapter 11 bankruptcy protection in mid-October, the company operated about 700 stores. With the latest round of closures, Sears has announced the closure of 262 stores.

Liquidation at the 80 stores pegged for closure is expected to start in two weeks.