Sears Holdings will close an additional 40 locations in 2019 as the company continues to navigate bankruptcy proceedings.
The latest round of store closures is in addition to the 142 Sears and Kmart locations the retailer said it would close following its October 15 bankruptcy filing. The additional 40 stores targeted for closing include 11 Kmart locations and 29 Sears stores, according to a list published by CNBC.
At the time of its bankruptcy filing, the struggling retailer had approximately 700 locations. The retailer is said to be in ongoing negotiations to secure financing to keep the company running.
Despite its bankruptcy filing, Sears and Kmart are moving forward with holiday promotions focused on Black Friday and the entire holiday season. The promotional efforts for both retail brands will highlight competitive pricing and product assortment while also tapping into shopper sentiment regarding the two venerable retail brands.