Sears to close 96 more stores; gets cash lifeline

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This location is one of 96 Sears and Kmart stores that will be closing by February, 2020, according to an announcement by Transformco, the company that purchased Sears Holdings Corporation out of bankruptcy. Hundreds of Sears stores have closed in the last few years.

Following the closures, the company will operate just 182 stores, down from almost 700 when it filed for bankruptcy in October of previous year.

After the latest round of closures, the company will have only 182 stores in operation. The financing came from lenders that include owner Eddie Lampert.

Transformco said going-out-of-business sales are set to begin on December 2.

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Thursday's announcement means the only Sears stores left in south central Pennsylvania will be existing locations at the Colonial Park and Capital City shopping malls on Harrisburg's East and West Shores.

The company recently acquired Sears Hometown - a network of independently owned and operated, smaller stores that offer home products such as appliances, sporting goods and tools - that it hopes could help change its fortunes.

The Santa Maria Valley Chamber says it was "disappointed" to learn Sears would be leaving the city and will work to help employees affected by the closure find new jobs and also identify new potential tenants for the vacated space.

"We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy", the company's release added. The 96 stores will shutter by February.

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