Struggling department store operator Sears Holdings Inc. announced this week that it would be closing 63 more Sears and Kmart stores.
This could inch the company closer to a likely bankruptcy as the company has already closed hundreds of stores in the last few years.
As for the 63 closings, 45 Kmart stores and 18 Sears stores will be closed in late January according to a memo from the company.
The stores will remain open during the holiday season and liquidation sales will start as soon as November 9th, which is this Thursday.
The locations of the closing stores are in the following states: Alabama, Arizona, Florida, Georgia, Idaho, Illinois, Kentucky, Michigan, Minnesota, Missouri, North Carolina, Ohio, Pennsylvania, South Dakota, Tennessee, Texas, Virginia, Wisconsin and West Virginia. The states losing a Sears store are Alabama, Arkansas, Arizona, Colorado, Georgia, Massachusetts, Maryland, Pennsylvania, Texas, Utah, Virginia and Wyoming. Many of the Sears locations will first see their Sears Auto Center locations close next month.
Disclaimer: We have no position in Sears Holdings Corp (NASDAQ: SHLD) and have not been compensated for this article.