So far, Utah’s Sears and Kmarts are safe.
Sears Holdings Corporation has revealed 80 of its 100 to 120 stores will close. As of 5 p.m. Friday, no Utah stores were on the list.
Additional updates will be posted at searsmedia.com when they become available.
On Tuesday, the company said it would implement a series of actions to reduce on-going expenses, adjust its asset base and accelerate the transformation of its business model. The plan includes closing poor-performing stores.
The company expects the store closures to generate $140 million to $170 million in cash as the net inventory in those stores is sold. The company also expects to generate additional cash proceeds from the sale or sublease of the related real estate.