Sears To Close 46 More Stores

(RTTNews) - Struggling retailer Sears has announced plans to close another 46 Sears and Kmart stores.

The company has notified employees working at 13 Kmart stores and 33 Sears stores that the locations will close by November.

The company has already closed more than 100 stores this year. Currently about 900 US stores remain, compared to about 3,500 US stores in 2005, when Sears and Kmart had merged.

"We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed," the company said in a statement.

Liquidation sales at the 33 Sears stores and 13 Kmarts are expected to begin next week, according to Sears. The company also said that eligible workers will receive severance and be able to apply for openings at other nearby stores.