Bankrupt U.S. retailer Sears Holdings Corp takes a hit of $443 million in store closure charges in the third quarter

Some charges remain to be booked in the 4th quarter.

According to a regulatory filing, bankrupt U.S. retailer Sears Holdings Corp will take a $443 million charge on account of the closures of its stores.

Sears stated, some of the charges have already been incurred in the third quarter, while some remain to be booked in the fourth quarter.

In a statement, the retailer stated, in the third quarter ended November 3, 2018, the total costs related to the closure of its 73 Sears stores and 28 Kmart stores amounted to $229 million.

The charges includes severance costs, markdowns, and lease termination costs arising from store closures.

Sears filed for Chapter 11 bankruptcy protection in October 2018.

Earlier this month, Eddie Lampert, the retailer’s Chairman made a $4.6 billion offer to buy the U.S. retailer and called for nearly 500 Sears stores to remain open.



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