Sears Holdings Corp. is closing 20 more stores, including a Sears in Chicago’s Galewood neighborhood, in mid-September.
Those closings — including 18 Sears and two Kmart stores — follow 150 stores Hoffman Estates-based Sears shuttered in the first quarter of this year and another 66 expected to close by early September.
The latest 20 are among the 235 locations Sears sold to its real estate investment trust spinoff, Seritage Growth Properties, in 2015. Seritage reported the closings in an SEC filing Friday.
“We have been strategically and aggressively evaluating our store space and productivity and have accelerated the closing of unprofitable stores as previously announced,” Sears spokesman Howard Riefs said.
Sears’ agreement with Seritage lets it end its leases at unprofitable stores in exchange for payment of one year’s rent.
The only Chicago-area store among the 20 closing is on North Harlem Avenue in Galewood, Riefs said.
The closing of that location will leave only one Sears store within Chicago city limits, at Six Corners in the Portage Park area.
Closing stores are expected to start liquidation sales by June 30 before closing in September. An auto center at the Galewood Sears will close in late July.