Sears Holdings Corp (NASDAQ:SHLD) is will have 7 more Sears stores closing in 2017.
The Sears stores closing has reportedly been announced internally by the retail company, but hasn’t been made public yet. Despite this, Business Insider learned of the store closings and has confirmed them with employees at each of the stores.
Here is the list of Sears stores closing in 2017.
- Kentucky Oaks Mall, Paducah, Ky.
- 1901 S. Yale Ave., Tulsa, Okla.
- Town Center Mall, Charleston, W.V..V.est Virginia
- Walden Galleria, Cheektowaga, N.Y.
- Boulevard Mall, Amherst, N.Y.
- 1 Galleria Dr., Middletown, N.Y.
- Swansea Mall, Swansea, Mass.
According to Business Insider, the majority of these stores will start liquidation sales on Jan. 6. The Sears stores closings will then take place between March and the middle of April. The closings means that Sears Holdings Corp will have less than 1,500 Sears stores across the United States.
Sears Holdings Corp has been working to reduce the number of stores it operates over the last few years. The new Sears stores closing is a sign of that. It hopes to reduce spending and combat falling sales.
It’s not just Sears stores closing. The retail company is also planning to close 24 Kmart stores early next year. You can check out the Kmart stores closing list at this link.
Sears Holdings Corp also just announced that it has secured a new loan from ESL Investments, Inc. The loan is for $200 million and it also includes the option for an additional $300 million in funding.
SHLD stock is up 2% as of Thursday morning.
