(Bloomberg) -- Sears Holdings Corp. will close 63 more Kmart and Sears locations after the holidays, adding to hundreds of stores that have shuttered as part of the retailer's bid to curb losses.
The company informed employees at 45 Kmarts and 18 Sears stores that it would be shutting down the locations by late January, according to a statement on its website. Liquidation sales will begin as soon as Nov. 9.
“We will continue to close some unprofitable stores as we transform our business model,” the company said.
Sears is working to offload unprofitable stores and serve more customers with e-commerce, but it's been an uphill battle. The company has posted roughly $11 billion in losses over the past six years.
Employees at the stores will be eligible for severance and may apply for jobs at other Sears or Kmart locations, the Hoffman Estates, Illinois-based company said.
Cities with affected stores include Baltimore, Salt Lake City, and Nashville, Tennessee.
To contact the reporter on this story: Nick Turner in New York at nturner7@bloomberg.net.
To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Lisa Wolfson
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