Kmarts, Sears Closing

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

There are two Kmart stores in Manhattan—one at Astor Place and another near Penn Station—and they could possibly be in trouble. Sears Holding Corp. (which owns Kmart and Sears) says it will close 100-120 of its stores nationwide after disappointing holiday sales. They haven't said which stores will close, but they're expecting to "generate $140 to $170 million in cash from inventory sales." So, Filene's round two? [HuffPo]