Dozens of Kmart and Sears stores closing; None in Nebraska

Sears is closing at least 72 stores nationwide

Sears is closing at least 72 stores nationwide

Sears Holdings Corp. announced the Flint Township store is among 72 Sears and Kmart stores that will close soon.

Sears is closing another 72 stores after reporting first-quarter losses and plunging sales.

It will also close its Peabody store in July. The list includes 15 Kmart and 48 Sears stores across the United States.

Sears is closing more stores as the company's sales continue to slide, with revenue falling more than 30%, to $2.9 billion from $4.2 billion, in the most recent quarter.

These closures would come on the heels of the company's decision to shutter well over 100 stores in 2016 and roughly 150 stores in 2017.

Sears previously announced a list of 166 store closures that took effect this year.

The store is at the back of the mall, facing Kinne Street.

To stem losses, Sears has closed almost 400 stores since previous year, leaving 894 stores still open as of May 5.

Sears says that eligible employees affected by the closures will receive severance and have the opportunity to apply for open positions at local Kmart or Sears stores. A year ago his hedge fund, ESL Investments, doled out $1 billion in financial support to the ailing retailer.

Chairman and CEO Edward Lampert, who combined Sears and Kmart in 2005 after helping to bring the latter out of bankruptcy, has long pledged to save the famed retailer, which started in the 1880s as a mail-order catalog business.

Earlier in May, Sears formed a special committee to explore the sale of Kenmore and divisions of its home services business, the same assets Lampert said he was interested in buying.

That way consumers can have their tires shipped to Sears and put on locally, but get Amazon prices, according to Sears' earnings announcement. The profit was due to a $492 million gain tied to the sale of the Craftsman brand.

Tom Cruise Shares First "Top Gun" Sequel Photo
LeBron James says he asked the Cavaliers not to trade Kyrie Irving