(Mohammad Khursheed/Reuters)More bad news for Sears Holdings: The beleaguered chain on Friday said it will shutter an additional 20 U.S. stores, amounting to more than 260 closures so far this year. A day earlier, spin-off Sears Canada filed for bankruptcy protection and said it would close 59 stores and lay off nearly 3,000 workers. As part of its latest effort to stay afloat, Sears Holdings said it would close 18 Sears stores — including locations in San Diego, Houston and Hagerstown, Md. So far this year, the company has announced the closure of more than 260 Kmart and Sears stores. “Plans are underway to open additional Sears free-standing stores dedicated to two of its strongest categories,” Leena Munjal, a senior vice president at Sears Holdings, wrote in a blog post.

Source: Washington Post June 23, 2017 21:50 UTC