Kmart To Close 64 More Stores Across The U.S.

by MR Magazine Staff

Kmart, the mass-merchandise retail chain struggling with listing sales, is going to close 64 stores across the U.S., a person familiar with the matter said Monday. Liquidation sales will begin on Sept. 22, and the stores will close their doors in mid-December, according to the person,who did not want to be named because they were not allowed to say so publicly. It is the latest round of cuts by the retailer. Its parent company, Sears Holdings, said in April that it would close 68 Kmart stores this summer. Both Sears and Kmart have had a difficult time remaining profitable and competitive in a retail environment increasingly dominated by other mass market chains and e-commerce sites like Amazon. See more at USA Today.