Last Kmart in Chicago set to close

Darnell Taylor
November 10, 2018

This week, Sears Holdings, which owns Kmart alongside its flagship retail brand, announced 40 more Kmart and Sears stores will close in the near future.

This will be in addition to the 142 unprofitable stores the department store chain is already expected to close toward the end of the year.

The adjacent Sears Auto Store also will be closing, the company said. According to Business Insider, by February 2019, when the latest Sears store closures will be completed, there will be only about 500 Sears and Kmart stores still in business.

Sears filed for Chapter 11 bankruptcy protection last month with about 700 Sears and Kmart stores in operation.

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"Liquidation sales at these stores are expected to begin late next week", the company said Thursday of the latest round of closures.

Fewer than 90,000 people still worked for Sears Holdings earlier this year, down from 350,000 in decades past.

In Fairbanks, Sears Holding announced 40 stores would be closing, including the location on Airport Way in Fairbanks.

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