Final sales to start at 150 closing Kmart and Sears stores

The bad news is that 150 Kmart and Sears stores will shutter by the end of March.

The silver lining is that liquidation sales would start as early as Friday at all of those stores, Sears Holdings Corp. announced Thursday.

The parent company of both struggling retail chains said it will close these 108 unprofitable Kmart locations and 42 unprofitable Sears locations "to stem losses."

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The closures are among Sears Holdings' latest moves to transform its business model into one that is less "store-based" and less "asset-intensive." Edward S. Lampert, chairman and CEO of Sears Holdings, explained in Thursday's announcement:

"We are taking strong, decisive actions today to stabilize the company and improve our financial flexibility in what remains a challenging retail environment. We are committed to improving short-term operating performance in order to achieve our long-term transformation."

In mid-February, one Kmart store in Mechanicsburg, Pennsylvania, will close. In mid-March, one store in Cromwell, Connecticut, will close.

At the end of March, the rest of the 108 unprofitable Kmart stores will close. They are spread across multiple states.

Two Sears stores — in Florence, South Carolina, and Camp Hill, Pennsylvania — will close in mid-February.

At the end of March, the rest of the 42 Sears stores will close. They are spread across multiple states. For a complete list of Kmart and Sears stores due to close, check out Sears Holdings' "Upcoming Store Closures" document.

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Notable stores that no longer exist like they used to
Signage is displayed at a Filene's Basement store in Chicago, Illinois, U.S., on Wednesday, Nov. 16, 2011. Bankrupt discount-clothing retailer Syms Corp. and its Filene's Basement LLC unit won court approval to conduct going-out-of-business sales to liquidate their inventory. Photographer: Tim Boyle/Bloomberg via Getty Images
A Circuit City store is seen in Dallas, Texas in this file photo taken June 19, 2008. U.S. electronics retail chain, Circuit City is considering closing at least 150 stores and cutting jobs, the Wall Street Journal said on October 20, 2008, citing people familiar with the company. REUTERS/Jessica Rinaldi/Files (UNITED STATES)
NORRIDGE, IL - JANUARY 30: KB Toys signage is visible atop the entranced to its store January 30, 2004 in Norridge, Illinois. Pittsfield, Massachusetts-based KB Toys says it will close 375 stores nationwide including this Norridge, Illinois store. (Photo by Tim Boyle/Getty Images)
ALEXANDRIA, VA - AUG 14: An Ames Department Store stands August 14, 2002 in Alexandria, Virginia. Ames Chairman and CEO Joseph R. Ettore in announced that the discount chain would close all 327 store locations leaving 22,000 unemployed. (Photo by Mike Theiler/Getty Images)
The Blockbuster movie rental store is open for business in the Denver suburb of Broomfield, Colorado April 6, 2011. Dish Network Corp won Blockbuster Inc in a bankruptcy auction for about $320 million, boosting the satellite TV provider's online features and marketing reach. Dish, the second-largest U.S. satellite TV company after DirecTV, trumped at least three other bidders, including activist investor Carl Icahn, for the one-time leader in video rentals. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS)
A Sports Authority store is shown in Encinitas, California on March 2, 2016. Sports Authority Inc. said it had filed for Chapter 11 bankruptcy protection and hired liquidators to begin closing up to 200 of its 463 locations. REUTERS/Mike Blake
Customers walk into the Hollywood Video store that is scheduled for closing in Springville, Utah, U.S., on Wednesday, May 12, 2010. Movie Gallery Inc., the owner of Hollywood Video stores, plans to shutter operations and liquidate assets after filing for bankruptcy for the second time since 2007. Photographer: George Frey/Bloomberg via Getty Images

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