Plus   Neg

Sears Owner To Close 96 More Stores

The parent company of Sears Holdings and Kmart has secured a new $250 million capital and announced plans to close 96 more stores.

Transform Holdco, the company formed in January to buy the remaining assets of bankrupt retailer Sears Holdings Corp., disclosed a list of the next Sears and Kmart stores to close by February 2020.

Going-out-of-business sales in the 96 stores slated to close will begin December 2, Transform said in a statement.

Transformco said it will operate 182 stores following the closures. It will continue to evaluate Sears and Kmart footprint, consistent with overall retail and service strategy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Toyota Motor Corp. has invested $394 million in U.S. electric air-taxi startup Joby Aviation as lead investor in the recent $590 million Series C financing. Toyota said it is continuing to leverage emerging technologies to provide "Mobility for All" as the lead investor as part of its transformation into a mobility company. As the world is facing severe consequences of increasing carbon emissions, Microsoft has announced various plans to tackle the issue. The company aims to reduce its own carbon emissions by more than half, and to be carbon negative by 2030. This means the company will remove more carbon than it emits each year. The company further announced a new $1 billion Climate Innovation Fund. With a view to expanding its presence in France, where it has been doing business for more than 100 years, Food and beverage giant Coca-Cola Co. (KO), during the Choose France Summit, announced 1 billion euros of investments in the country over the next five years. Coca-Cola Chairman and CEO James Quincey and President Emmanuel Macron is scheduled to elaborate on the plans in September.
Follow RTT