Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Alicia Adamczyk
April 22, 2016
A Kmart store in Rosemead, California.
A Kmart store in Rosemead, California.
FREDERIC J. BROWN—AFP/Getty Images

Sears Holding announced Thursday that 68 Kmart and 10 Sears stores will close down this summer, or about 5% of total stores. This is in addition to 50 other stores the company announced will close, according to USA TODAY.

According to the press release, nearly all of the stores will shut their doors in late July, with two of the Kmarts closing in September. Affected stores are spread out across the country (for a complete list, check Sears’ website). The Kmart stores will start their liquidation sales on May 12, while Sears’ will begin April 29.

Thursday’s news follows an earlier announcement from the company that it would systematically evaluate store performance and accelerate store closings. The company has net losses reaching $8 billion since 2010, according to Fortune.

Best college education image

Eligible employees affected by the closures will receive severance and have the ability to move to other stores.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST