Liquidation sales due to start on Thursday (22 September) according to the report

Liquidation sales due to start on Thursday (22 September) according to the report

US retail giant Sears Holdings is operating another wave of Kmart store closures which will see stores in at least 13 states shuttered by the end of the year.

According to an article published by Business Insider, the closures are already underway with the stores in question to close in mid-December and liquidation sales due to start on Thursday (22 September). It is understood that a total of 60 store closures will be made.

In addition, the report adds Seritage Growth Properties, a real-estate-investment trust that owns 235 Sears and Kmart stores, revealed in a filing on Friday that Sears had decided to terminate leases on 17 stores, all of which are Kmart stores.

Sears Holdings did not respond to just-style when asked to comment at the time of going to press.

In July, the company denied media reports that it plans to close all of its Kmart stores and that the chain is facing bankruptcy after staff were seen moving merchandise out of the stockrooms and onto the sales floor.

Speaking at the time, the retailer said it was just undertaking an inventory project to improve efficiency in its stores and speed up the checkout process.

Inventory project sparks Kmart shut-down rumours