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Santa Barbara Sears location among 40 stores set to close next year

Posted at 4:17 AM, Nov 09, 2018

Sears is announcing even more stores will close at the beginning of 2019, including a store in Santa Barbara.

Sears will close another 40 stores as it tries to avoid Chapter 11 bankruptcy.

This latest move affects 29 Sears locations and 11 Kmart locations.

One of the stores set to close next year is the Sears in La Cumbre Plaza in Santa Barbara.

The new round of closures is in addition to the 142 unprofitable stores the department store chain is already expected to close toward the end of the year.

Together, the closures are expected to leave the company with fewer than 500 locations remaining.

Sears has estimated it has about 400 stores that could be profitable on their own if it survives bankruptcy.

Liquidation sales at the 40 additional closures are set to begin late next week.