As many as 120 Sears and Kmart stores are expected to close after what retailers are calling terrible holiday sales.
The Associated Press reports the announcement came Tuesday, after the company said it was moving away from its practice of propping up “marginally performing” stores.
Sears has not yet determined which stores will be closed or if any jobs would be cut.
Sears Holdings Corp., based in Hoffman Estates, Illinois, operates Kmart stores, Sears, Roebuck and Co. and Land’s End.
According to the Associated Press, the company had announced numerous closings this year, but this is the largest group of closings to date thus far.