Sears stores across the country will be holding liquidation sales Friday.
The chain is trying cost-cutting measure to survive, according to the company's management. The retail chain announced in January it would be closing 150 stores starting in the spring. Last week management announced it would close an additional 20 outlet stores. Sears Holdings, which includes Kmart stores, is on pace to close 260 locations in 2017.
The company said in March that without the measures it’s likely the company would go out of business.
"Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern," said the statement.
The company lost $2.2 billion in the fiscal year ending in January. It has not made a profit since 2010.
The liquidation sales will continue, Sears management said, through mid-September.
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