Business Insider/Sarah Jacobs
Sears Holdings announced in January that it would shut down 150 stores this year, with most locations closing by April.
Now the company is closing even more stores.
Sears, which owns both Sears and Kmart stores, has been notifying local media of the additional closures over the last several weeks.
Most of the stores on the new list will start liquidation sales in April and close in July.
Sears didn't immediately respond to a request for comment on how many more closures will occur this year.
We compiled a list of the additional closures that the company has revealed so far, and will update this list as we learn of more locations that will shut down.
- 33400 W. Seven Mile Rd, Livonia, Michigan
- 424 Dairy Road, Kahului, Hawaii
- 4480 Indian Ripple Road, Dayton, Ohio
- 16881 Conneaut Lake Road, Meadville, Pennsylvania
- 1 Millbrook Plaza Lane, Mill Hall, Pennsylvania
- 300 Lincoln Ave, East Stroudsburg, Pennsylvania
- 176 W Street Road, Feasterville, Pennsylvania
- 17911 Pacific Ave., S. Spanaway, Washington
- Aventura Mall, 19505 Biscayne Blvd, Miami, Florida
- 3199 N White Sands Blvd, Alamogordo, New Mexico
- Northwoods Mall, 7801 Rivers Ave, Charleston, South Carolina
Sears chief financial officer, Jason Hollar, suggested in March that the company would be closing stores in addition to the 150 already announced this year.
In a prerecorded conference call, Hollar said the company was looking for ways to generate "liquidity" — in other words, cash — and he specifically highlighted the company's real estate.
"We have a valuable real-estate portfolio, which at the end of the fourth quarter comprised 1,050 leases with significant optionality, as well as 380 owned stores, many in prominent locations," Hollar said. "We will continue to assess opportunities to right-size our store footprint and inventory levels aligned to our ongoing transformation to an asset-light integrated retail model."
Sears is under pressure from years of plunging sales, and investors have been supportive of the company's decision to close its unprofitable stores.
Sears now has fewer than 1,500 stores, down from 2,073 five years ago.
If you work for Sears and your store is closing, reach out to email@example.com.