Sears to close more than 100 department and K-Mart stores

POSTED: Tuesday, December 27, 2011 - 5:45pm

UPDATED: Tuesday, December 27, 2011 - 7:36pm

Sears plans on closing more than 100 stores.

The company plans on closing between 100 and 120 Sears and K-Mart stores.

They say poor holiday sales, and less people want to buy electronic and appliances are to blame.

The retailer says the store closings will generate almost $170 million in cash in inventory sales.

Sears has more than 4,000 stores in the U.S. and Canada.

No word on when they plan to start shuttering the stores.

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