More store closures for Sears and Kmart

Freeman Staff

Nov. 8, 2019

The owner of Sears and Kmart announced Thursday it will close an additional 96 stores, including one in Wisconsin in Kenosha.

Transformco said Thursday it has obtained $250 million in new capital, money intended to fuel the company's turnaround after it obtained essentially all of Sears Holding Company's assets during its bankruptcy proceedings earlier this year, according to CNN.

The company will close another 96 Sears and Kmart locations in 30 states by February 2020.

According to CNN, after the closures, the company will operate 182 locations, down from nearly 700 when it filed for bankruptcy.

“We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy,” Transformco said in a statement Thursday.