Sears, Kmart to close 103 stores

More Sears KMart Stores Closing

Sears Holdings now has 1,104 stores, down from 1,672 in 2016.

The department store operator, which has racked up 24 straight quarters of sales declines, said 64 Kmart stores and 39 Sears stores would be closed between early March and early April this year.

The company said in a press release that "eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores".

Sears Holdings (SHLD), which owns both Sears and Kmart, made the announcement Thursday, building on months of similar closings aimed at getting the company on solid financial footing.

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Liquidation sales will begin as early as January 12 at the closing stores, Sears said, adding that "eligible" staff at these stores would receive severance.

Sears Holdings Corp. announced it was closing more than 100 stores early this year, including Kmart stores in Butte and Helena, as it tries to turn around its business.

The closures are just the latest for the troubled retailer, which has weathered massive store closures amid dwindling sales and increased online competition.

At its peak in the 2000s, there were 3,500 Sears stores and 2,171 Kmart locations throughout the country. There are also several smaller format Sears Hometown stores and auto centers.

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