Kmart, Sears to Close One-Third of Stores, 96 Locations to Now Shutter: Reports

A Kmart department store is seen in Springfield, Va., Oct. 23, 2014. Saul Loeba/AFP/Getty Images

The company that owns Kmart and Sears—retail juggernauts of yesteryear—will now close 96 locations across the United States, representing about one-third of its stores, it was reported.

Transformco, which brought the retailers out of bankruptcy earlier this year, will close down 51 Sears stores and 45 Kmart locations, Sears confirmed to the Chicago Tribune and USA Today on Thursday.