Sears Owner To Close 96 More Stores

(RTTNews) - The parent company of Sears Holdings and Kmart has secured a new $250 million capital and announced plans to close 96 more stores.

Transform Holdco, the company formed in January to buy the remaining assets of bankrupt retailer Sears Holdings Corp., disclosed a list of the next Sears and Kmart stores to close by February 2020.

Going-out-of-business sales in the 96 stores slated to close will begin December 2, Transform said in a statement.

Transformco said it will operate 182 stores following the closures. It will continue to evaluate Sears and Kmart footprint, consistent with overall retail and service strategy.