Sears to close another 20 stores

Sears pop-up shop

The Sears pop-up shop offers its own new brands including a fashion lined geared toward younger customers

Another New Jersey Sears store is likely to close as the retailer announces plans to close 20 more locations.

The Sears logo is seen on the side of a store March 24, 2005 in San Bruno, California.

Other stores were closed earlier this year and now eight Sears stores remain in the state, almost all accompanied by an auto center.

Sears announced this spring that it lost more than $2 billion a year ago.

"The store will close to the public in mid-September and the Sears Auto Center will close in late July", Sears Director of Corporate Communications Howard Riefs said in an email June 23.

The Company will continue to take all necessary action to drive improvements in our organization to achieve our profitability objective with a greater focus on Best Members, Best Categories and Best Stores.

The only Chicago-area store among the 20 closing is on North Harlem Avenue in Galewood, Riefs said. Sears has almost halved its store footprint since 2012, from 2,019 then to fewer than 1,200 this year, once all planned closures are made.

Sears warned in March that there is "substantial doubt" about its ability to remain in business due to losses that have topped $10 billion since 2010, the last time it turned a profit.

These closures come in addition to the closing of 226 stores - 164 Kmart stores and 62 Sears stores- already announced this year, according to research firm Fung Global & Retail Technology, which tracks retailers' closings.

Sears is hardly the only retailer shuttering locations.

The company will not say how many employees will lose their jobs. However, Sears Holdings CEO Eddie Lampert and his ESL Investments hedge fund own an approximate 45% stake in the company.

TravelBrands, which owns Sears Travel, said it is consulting with its legal team before making a statement.

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