Sears to close 72 more stores across the U.S.

While Sears Holdings announced it would be closing 150 underperforming stores in 2017, including 108 Kmart locations‚ the struggling retailer has actually already closed more than 180 stores and it's not stopping yet. The company has now announced that it is closing an additional 72 stores.

The breakdown of the closures includes 16 Sears stores, 49 Kmart stores and 7 auto centers. In terms of the big picture, the company is down 1,200 stores from five years ago. Supposed strategic store closures aside, Sears has also tried to stay afloat by selling its Craftsman tool brand to Stanley Black & Decker for an estimated $900 million.

It remains to be seen whether any of these measures can stave off further decline for the storied American department store. CEO Eddie Lampert recently blamed negative reports in the media for the company’s woes. But other daunting problems have also hampered the retailer, such as the loss of two CFOs in two months, a 50 percent reduction in sales since 2007 and a $500 million dollar debt, $100 million dollars of which is reportedly due in July, with the remaining $400 million expected in January of 2018.

Sears to close 72 more stores across the U.S.

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