Find Station

Are Sears & Kmart Becoming A Thing Of The Past?

American department stores are struggling, none so severely as Sears, which has announced that there is “substantial doubt” that it will be able to keep its doors open much longer. 

According to a Tuesday filing, Sears Holding Corp. which also owns and operated Kmart lost more than $2 billion last year. 

Sears announced in January that it would close 10 percent of its 15,000 stores, but the prognosis has clearly grown more dire as “stores are in need of a major redo” while the company “is having a hard time disguising its age,” reports the AP.