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Topic - Chris Brathwaite
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LAYOFFS
Many Sears, Kmart stores to close
Sears Holdings Corp. plans to close between 100 and 120 Sears and Kmart stores after poor sales during the holidays, the most crucial time of year for retailers.
Quotations
Mr. Brathwaite said the job cuts do not violate the terms of a $150 million tax credit for Sears approved by the Illinois General Assembly in December after the company threatened to move its headquarters out of Illinois.
Sears Holding Corp. spokesman Chris Brathwaite said the layoffs of "about 100 associates" at the company's headquarters in Hoffman Estates took effect immediately.
