Dive Brief:
- Sears Holding Corp. will close over 100 stores and lay off at least 5,457 employees in upcoming months, according to a Thursday report from Seeking Alpha.
- Store closings include the company's eponymous department store (30 stores), Kmart stores (46) and Sears Auto Center (31) locations.
- The figures were compiled by Seeking Alpha based on local liquidation sale notices and surveys of employees and mall managers.
Dive Insight:
Some of these store closings may include the seven locations Sears is leasing to U.K. retailer Primark for an undisclosed amount. But even with these stores taken out of the equation, the large amount of locations reportedly closing is a startling sign before the holidays. The closings can be added to a long list of signs of the end for the retailer.