13 K-Mart stores and 33 Sears stores will no longer exist by November. Liquidation sales at these locations will begin as early as August 30.
The retail giant, Sears, merged with K-mart in 2005. Since the beginning of 2018 over 100 locations have been closed around the United States.
In 2005, when the two companies merged, there were over 3,500 store locations in total. 13 years later less than 900 are still in operation. Sears has lost $11.2 billion since 2010, its last profitable year and sales have plunged 60% in that time.
Shares of Sears (SHLD) have plunged 85% within the the past year. They hit an all-time low of $1.15 a share in midday trading Wednesday before closing at $1.18, leaving the stock down 5% for the day.Free contest software by Rewards Fuel