SEARS CLOSES 46 MORE U.S. STORES

Calgary Herald - - FP CALGARY -

an­other 13 Kmart stores and 33 Sears stores in the U.S. as sales shrink and losses grow. The ail­ing com­pany said Thurs­day that liq­ui­da­tion sales at the 46 un­prof­itable stores marked for clo­sure will start Aug. 30, and the stores will close in Novem­ber. The com­pany said it in­formed its work­ers. The move comes as Sears is con­sid­er­ing a bid from CEO Eddie Lam­pert’s hedge fund ESL In­vest­ments to ac­quire its jewel Ken­more ap­pli­ances from the com­pany for $400 mil­lion. The com­pany has put oth­ers of its fa­mous brands on the block be­fore. In Jan­uary, Sears had said it was clos­ing 100 stores. It an­nounced in May that it was clos­ing an­other 100. As of May 5, it had about 894 stores, down from about 1,000 at the end of last year. The num­ber of stores peaked in 2012 at 4,000, which in­cluded the Sears Canada di­vi­sion that was later spun off.

RICHARD BUCHAN / THE CANA­DIAN PRESS FILES

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