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Sears Holdings Corp.

Sears To Close 78 Stores, Including Putnam Kmart, This Summer

Sears To Close 78 Stores, Including Putnam Kmart, This Summer

NEW YORK — Sears Holdings Corp. will close another 78 stores — 68 Kmart units, including one in Putnam, and 10 Sears stores — as it looks to restore profitability.

That accounts for about 5 percent of its store base, which is nearly 1,700 stores.

The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a "challenging" holiday season. The move announced Thursday is expected to generate a "meaningful level" of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday.

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