Sears Holdings has identified approximately 100 non-profitable stores and will close 72 of them in the near future. The stores destined for closure have not yet been revealed, but the company said it would identify them by mid-day. The company said that it came to the decision as part of their ongoing efforts to streamline its operations.
Sears also added to its previous announcement earlier this month that a special committee of the board of directors of the company has initiated a formal process to explore the sale of the Kenmore brand and related assets, the Sears Home Improvement Products business of the Sears Home Services division and the PartsDirect business of the Sears Home Services division. The company said the special committee continues to evaluate the letter from ESL Investments expressing interest in participating as a purchaser of all or a portion of the sale assets.