It had been reported last month that this retail giant was having financial trouble

With another slow holiday season, Sears announced it would be closing 108 Kmart stores and 42 Sears locations. On December 27th, Sears Holdings made the announcement to close 30 Kmarts and 16 sears stores and then yesterday made more cuts to jobs as 78 Kmarts will be closing its doors and 26 Sears retail locations.

According to WGN TV:

"A statement from the Sears Holdings says, “The decision to close stores is a difficult but necessary step as we take actions to strengthen the Company’s operations and fund its transformation. Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success."

The two Illinois stores closing are both Kmarts and they are located near St. Louis in Alton and Grantie City.

Thankfully, the Kmart on State St. and the Sears location at Cherryvale Mall will stay open. Hopefully Sears can find a way to turn things around.