Sears has 66 stores more to be closed

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Sears Holdings is closing 66 stores in his campaign finishes Sears and Kmart stores bring profitability, a source close to the original row said Tuesday.

Closure includes 49 stores of Kmart and 17 Sears’s stores, and will most close in September. New zippers expand the list of locations of 180 US retailers announced in detail earlier this year. The news about the new shutdown circuit was first reported by Business Insider.

Sears Holdings, parent company Sears and Kmart, has no direct comment on the closures.
The financial problems of an Illinois-based company, whose name has deepened the retail mix of close generations of Americans dramatically over the last few months.

In January, Sears Holdings said that the 150 poorly performing stores nearby, including 108 local Kmart. The measure of financial survival that occurred after the Stanley Black & Decker trademark was terminated earlier and sold by the masters included around $ 900 million.

Only two months later, the company surprised investors with Securities Commission data saying that Sears Holdings had to continue “serious doubts” about its ability, its work, if they could increase the loan and money assets. The announcement sent the shares of the company 12.3 percent.

Sears is a great short squeeze each time up

In May, Sears Holdings quietly at least 30 additional attack sites have already announced this year. The updated list at that time consists of 12 stores and 18 Sears Kmart locations, in Carson, California Hialeah, Florida.

Most of them are scheduled to close their doors in July, according to calls in stores, shopping centers in cities, and certificates in local media reports.
Returning to saving money and reducing debt, the parent company in May will postpone paying a lot of $ 500 million credit. Sears Holdings subsidiaries now have a contract that allows them to repay $ 100 million in July, the first maturity date.

The remaining $ 400m is expected to be due in January 2018, and the company has the opportunity to push the expiration date back to July next year.