Sears closes another 20 stores

Sears closes another 20 stores

Sears closes another 20 stores

The Sears logo is seen on the side of a store March 24, 2005 in San Bruno, California.

The Mentor location is one of 20 Sears stores in the company's latest round of closures, Business Insider reported.

Two Sears and Sears Auto Center locations in Northeast Ohio will close their doors in what the company is calling "a hard, but necessary decision". WBAL reports real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings- 18 Sears stores and two Kmart stores - in a government filing Friday.

"Sears Holdings continues to actively manage our real estate portfolio to identify additional opportunities for reconfiguration and reduction of capital obligations", Sears said in a statement.

Stores are closing at alarming rate.

In an email, a Sears spokesman said the stores will close in mid-September and the Sears Auto Centers will close in late July. Kmart stores in Clementon, East Brunswick, Manahawkin, Mantua, Pleasantville and Rio Grande closed this year.

Family and friends remember pregnant woman shot dead by police
It shows the moments leading up to the point where police say the woman confronted two officers while she was wielding two knives. A day after the shooting of a 30-year-old pregnant mother of four by Seattle Police, neighbors tell Q13 News they are distraught.

Wife: Man who shot congressman wanted to work on tax policy
Sava said that after being released from the hospital, Scalise "will require a period of healing and rehabilitation". Hodgkinson, a 66-year-old home inspector and activist who volunteered on the presidential campaign of Sen.

Arrest warrants out for Turkish agents, others in DC melee
Washington police officials confirmed that the two Americans are Sinan Narin , of Virginia, and Eyup Yildirim , of New Jersey. The incident, which injured nine protesters, further inflamed tensions between Washington and Ankara .

Sears warned in March that there is "substantial doubt" about its ability to remain in business due to losses that have topped $10 billion since 2010, the last time it turned a profit.

While numerous bankruptcies have been by small mom-and-pop retailers with one or two locations, plenty of major national retailers have also filed for bankruptcy.

On Thursday, Sears Canada, a separate company that Sears spun off in 2012, filed for bankruptcy protection.

Riefs declined to disclose the number of jobs that will be cut and the state has not yet released a Workforce Development Agency Notice.

In April, Seritage, a developer that controls about 250 Sears Holdings properties across the USA, said it was seeking new tenants to take over some of the space at five Sears and Kmart stores in Maryland.

Related news