Sears to Close 100+ Stores, Lay Off 5,500

In what can't be qualified as surprising news, Sears Holdings Corp announced this morning that it will close more than 100 stores across the country and lay off upwards of 5,500 employees. At least 46 Kmart stores, 30 Sears department stores and 31 Sears Auto Centers are scheduled to close before the end of January.