Sears to close another 20 stores

BREAKING: Sears Canada closing 59 locations including Red Deer

BREAKING: Sears Canada closing 59 locations including Red Deer

The Sears store in the Acadiana Mall in Lafayette is among 20 USA locations that the company announced Thursday it would shut down.

Sears launched a pilot DieHard store in San Antonio in February, Automotive News reported.

Sears Holdings, which owns the Sears and Kmart chains, has already announced more than 200 closures since the beginning of the year.

The Illinois-based company shut down a Grand Rapids store in March after a January announcement of nationwide closures.

"We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors", the company said.

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The affidavit also stated that TravelBrands shoulders substantial commission and royalty payments under the Amended Sears Agreement, as well as rent and operational costs related to the staffing of 88 Sears Travel retail locations. It said it will begin liquidation sales next weekend and that the stores are expected to close by mid-September. Kmart stores in Clementon, East Brunswick, Manahawkin, Mantua, Pleasantville and Rio Grande closed this year.

The company operates 21 Sears and 25 Kmart locations in New Jersey. Sears Canada filed for protection from its creditors under Canada's Companies' Creditors Arrangement Act, the equivalent of Chapter 11 bankruptcy, on Thursday.

Riefs said in his email the number of affected employees is not publicly available. Sears Holdings owns about 12% of Sears Canada, while Sears CEO Eddie Lampert owns about 45% of its shares both personally and through his hedge fund.

In 2015, Sears Holdings Corp. sold 235 Sears and Kmart store locations to Seritage as part of an agreement in which Sears leases the stores back from the real estate company.

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