Sears owner gets $250 million lifeline, says it will shut another 96 stores

It will leave the business with 182 locations.A customer enters a Sears Holdings Corp. store in San Bruno, California, U.S., on Friday, Dec. 28, 2018.As the holiday season approaches, the parent company of Sears and Kmart has secured a $250 million lifeline and announced plans on Thursday to shut another 96 stores.

Transformco added it is taking the steps to focus on its "competitive strengths." But it faces "a difficult retail environment and other challenges." The announced closures and needed financing show that, despite filing for bankruptcy and restructuring, the Sears brand continues to struggle to win back shoppers. Sears was once one of the biggest retailers in America. But Sears' last profitable year was in 2010.

"We will continue to evaluate our Sears and Kmart footprint, consistent with our overall retail and service strategy," the company said.

Sears is one of my memorable stores in the US

laurenthomas What

laurenthomas Forget impeaching Trump. This is one of the biggest scandals in American business history. And I quote 'Those challenges have drained the company's cash coffers, risking a potential violation of terms of its other bank debt, the people said.' What a joke

I hate to see another iconic company to lose stores. I am hopeful that they can pull it together and build on what made them the best in their beginning and possibly fine new ways to attract the younger generations. Hopefully they will find the cheese that was stollen from them.

Give it up, Amazon won.

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