Kmart is closing 64 stores across 28 states. Sears Holdings, which owns Sears and Kmart, informed Kmart employees of the closures on Friday, according to several local news reports and multiple employees who spoke with Business Insider. The stores that are closing will begin liquidation sales on Sept. 22 and close by mid-December, employees said.
Total Retail's Take: More bad news for Sears Holdings, which isn't a surprise as the retailer continues to battle years-long sales declines. This latest announcement of 64 store closings follows Sears’ decision in April to shutter nearly 80 stores. Sears Holdings is trying to trim costs as much as possible so that it has enough cash available to stay in business. Unfortunately, those cuts come at the expense of Sears (and Kmart) workers.