SEARS, KMART closing more stores

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Sears Holdings is closing at least three additional stores as the retailer faces serious questions about its future heading into the crucial holiday shopping season.

The company is closing one Sears store in New York, a Kmart in New York and a Kmart in Virginia, according to layoff notices filed to government authorities.

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Business Insider reported that the company is closing another five Sears and three Kmarts for a total of 11 locations in this latest round.

The company has closed several hundred stores in recent years as it tries to stabilize its finances amid deteriorating sales. The most recent round, announced Aug. 23, involved plans to close 13 Kmart stores and 33 Sears locations in November.

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