Springfield Feels KMart Cut

Sears is announcing more store  closures.  

The one-time American department store giant is continuing to  lose business to its online competitors. 

The company says it will  shutter 35 Kmart  stores and eight Sears locations across the U.S.  

That brings the  number of closures to over 300 for the year.  

Sears CEO Eddie Lampert  said  --  quote  --  "We have fought hard to return unprofitable stores  to a competitive position and to preserve jobs and, as a result, we had  to absorb losses in the process."

Among the stores being closed is a KMart at Springfield Plaza.  Officials say that there will be a liquidation sale that will begin July 13th and the store is expected to be closed by sometime in October.

(Photo by Scott Olson/Getty Images)

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