Kmart closing two Las Vegas stores, closeout sales start next week

It's closing time for another 39 Sears locations and 64 Kmart stores.

Sears Holdings, which owns both Sears and Kmart, made the announcement Thursday, building on months of similar closings aimed at getting the company on solid financial footing.

Two Las Vegas locations, Rancho Drive at Craig Road and Las Vegas Boulevard at Carey Avenue, are scheduled to close soon.

Stores that are closing were struggling to make money and Kmart decided to focus on the stores that were.

Closeout sales at the affected locations will begin next week, the company said in a press release, and all 103 locations will be shuttered by May.

The company said in a press release that "eligible associates impacted by these store closures will receive severance and will have the opportunity to apply for open positions at area Kmart or Sears stores."

A spokesperson for Sears Holdings declined to say how many employees will be affected by the closings.

In 2006, the company operated more than 3,000 locations in U.S. and a few hundred in Canada.

The company said the closures are part of an ongoing effort to "right size" its store footprint.

"[A]s previously announced, we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members," Sears Holdings said in a statement Thursday.

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