Sierra Vista losing its Kmart amid country-wide closures

SIERRA VISTA, AZ (Tucson News Now) - For the second time in just a few months, several Kmart stores across the country have been targeted for closure.

On Monday, Business Insider reported 64 Kmart stores in 28 states will be closed by December 2016.

The only Arizona store on the list is in Sierra Vista. Employees told Business Insider that the liquidation sales are set to begin Sept. 22.

Sears Holdings, which operates both Kmart and Sears, had previously announced plans to close 80 stores in July 2016.

According to Business Insider and Moody's, things aren't looking to bright for either company.

"Sears' sales dropped from $41 billion in 2000 to $15 billion in 2015," the news website wrote in a story posted last week. "Kmart, which merged with Sears in 2005, has seen its sales plunge from $37 billion to $10 billion in the same period."

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