Sears Holding Corp. is closing 46 unprofitable Sears and Kmart stores in November.
States where Sears and Kmart stores are closing include California, Washington, Florida, Georgia, Ohio and Texas.
Workers were told this week. Liquidation sales are expected to start around Aug. 30, according to Bloomberg. The closures impact affiliate Sears Auto Center employees as well.
These store closings are in addition to the 63 planned closures Sears announced in May.
Eligible employees will receive a severance and the ability to apply for open positions at other Kmart and Sears stores, the company stated.
The 125-year-old company is struggling to stay afloat. Sears has already closed hundreds of stores and cut more than $1 billion in annual expenses, according to Bloomberg.
The Illinois-based retailer’s shares have dropped in each of the last four years.
So far, company stock has declined 67 percent in 2018.
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