Sears says it will be closing 142 auto centers, Kmart pharmacies

One-hundred-forty-two Sears auto centers and Kmart pharmacies will be closed as the company seeks to cut the company’s costs by $1.25 billion in 2017.

Sears Holdings officials have already closed 150 stores nationally in its efforts to save money — those include 108 Kmart and 42 Sears locations, according to a company release.

The company has already closed two Southern Illinois locations — one in Collinsville and one in Edwardsville. There is a Sears auto center in Fairview Heights, however, the release did not specify which Sears Auto Centers would close. A company spokesman did not immediately return a call for comment.

“Earlier this year, we initiated a strategic restructuring program and committed to improving our operating performance and financial flexibility in a very challenging retail environment,” Edward Lampert, Chairman and Chief Executive Officer of Sears Holdings, said in the release. “While we have made significant progress in reducing our cost base and enhancing our member value proposition, we need to take further action.”

The closings are part of a restructuring effort, which the release stated has produced $700 million in annualized cost savings so far.

This story was originally published April 24, 2017 at 6:53 PM with the headline "Sears says it will be closing 142 auto centers, Kmart pharmacies."