A statement released by Sears Holdings said the closings come in an effort to "right size" their store footprint and to find a balance between a physical and digital presence. All 103 local Sears and Kmarts, including the Ocala and Bellview locations, will shutter by May.
The company also owns Kmart and announced it will close 64 of those stores. They'll be shuttered between early March and April. The Sears Auto Center there will shutter its doors in late January.
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This is the latest in a round of closings of Sears and Kmart aimed at getting the company on solid financial footing.
Third-quarter 2017 revenue totaled about $3.7 billion compared with $5 billion for the third quarter of 2016.
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CNBC reported that Sears didn't say how many employees would be impacted by the closings, but a majority of the jobs are part-time positions and eligible employees would receive severance. "Kmart comparable store sales decreased 13 percent, while Sears comparable store sales declined 17 percent".
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