Sears Shuttering 103 Stores

Sears (Hoffman Estates, Ill.) plans to close 103 stores in 2018. The closures will affect both its Sears and Kmart banners – 64 Kmart stores and 39 Sears stores are slated to close. Liquidation sales will begin on Jan. 12, with the closures expected to be finalized between early March and early April.

This news comes two months after the retailer announced its most recent round of closures. According to Fortune, it “has closed hundreds of locations in the last few years.”

Sears insists that it's in the process of reinventing its business model so that, according to a statement, its “physical store footprint and our digital capabilities match the needs and preferences of our members.”