More than 100 Sears and Kmart stores will close in March and April, Sears Holdings announced Thursday.
The company will continue to close some unprofitable stores as it attempts to "right-size" the number and size of its physical stores to customers' needs, it said in a statement.
Employees at the 64 Kmart and 39 Sears stores that close will get severance benefits and will be able to apply for open positions at other Kmart and Sears stores, but the company did not guarantee jobs for associates.
Sears Holdings spokesman Larry Costello wouldn't say how many jobs would be cut, but noted that most are part-time positions. Liquidation sales will begin as early as Jan. 12.
Sears Holdings shares fell 4 percent to $3.58 on Thursday. In June, the company announced plans to close 86 Sears and Kmart stores across the country. That's on top of the more than 1,000 stores closed in the past several years.
Last March, the company said in Securities and Exchange Commission filings that there was substantial doubt that it would survive.
Sears Holdings currently has 1,104 stores, down from 1,672 in 2016.
