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Sears to sell 140 stores, close additional locations

Via Pennsylvania Real Time News

By Candy Woodall

A week after announcing 63 store closures that included seven in Pennsylvania, Sears Holding Corp. this week said it’s planning to sell up to 140 stores and close additional locations.

The latest round of closures is part of a deal to fund pensions. Sears Holding will pay $407 million to Pension Benefit Guaranty Corp, using money raised from selling up to 140 stores. Pension Benefit Guaranty Corp covers about 100,000 Sears employees.

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