Sears Holdings Announces Closure of Stores, But Not in Gilroy

More than one hundred Sears and Kmart stores will be closing, after the corporation reported a steep decline in holiday sales, according to an article by CNN.

"Given our performance and the difficult economic environment, especially for big-ticket items, we intend to implement a series of actions to reduce on-going expenses," Lou D'Ambrosio, CEO of the company, told CNN.

However, this news won't affect Gilroy because the city's Sears store is independently owned, and a Kmart store doesn't exist within city limits.

Corey Smith, store manager of the , said there have not been any talks of closing the store, and that staff is excited to have another great year in 2012.

"We don’t plan on closing the store down," Smith said. "We welcome all business, and look forward to starting off the New Year great."

As for the Sears and Kmart stores that will risk being closed, CNN reported that they haven't been identified yet.

To read what Sears Holding Corporation says about closing its stores, refer to the CNN article.