Sears Holdings Corporation will lay off at least 5,457 employees and close over 100 stores–many before Christmas
*(Via Examiner) – Sears stores closing soon has fans of the longtime retailer saddened this Christmas season, but a financial struggle is at last taking its toll on the chain.
In recent months, Sears Holdings has suffered massive losses, which will eventually leave 235 stores shutting down and thousands of employees likely losing their jobs. The New York Post reported this Friday, December 5, 2014, that a combination of ebbing business levels and fewer customers are to blame for the persistent economic challenges.
It seems that in light of these fiscal losses, news of Sears stores closing has been confirmed this week. The owner of both Sears and its sister retailer Kmart — which is also having a very hard time in terms of overall money-making— has said that no less than 235 stores will be shutting down before the end of 2014.
Not only is this number noticeably high, but it a tremendous leap from previous store closing estimates, which were thought to be only 130 stores or so nationwide.
This article continues at Examiner.