Sears & Kmart will see the closure of 30 stores in early 2017, having announced the news to employees this week, according to Business Insider
The struggling department chain have been forced to close stores to help combat losses from poor sales. Sears stores closures now total more than 200 for the last fiscal year.
According to Business Insider, affected stores will begin liquidation sales in early January and will go out of business late March.
Bloomberg have announced Sears CEO, Eddie Lampert, is once again prepared to bankroll the company. The hedge fund manager, who is Sears’ biggest investor, will offer a $200 million letter of credit to the department store chain through his firm ESL Investments Inc.