Sears to close another New Jersey store

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Sears Holding Corp.is shutting down 20 stores across the United States, including the Sears store and Sears Auto Center in East Northport.

The Sears logo is seen on the side of a store March 24, 2005 in San Bruno, California.

That's a total of 260 stores closing this year alone; leaving 1,100 remaining locations.

The latest 20 are among the 235 locations Sears sold to its real estate investment trust spinoff, Seritage Growth Properties, in 2015.

Sears Holdings, which owns both the Seas and Kmart chains, is struggling and has announced the closing of 200 locations in order to improve its cash flow.

"We are making the hard, but necessary decision to close the Sears store and Sears Auto Center", Sears spokesman Howard Riefs said in an email late Thursday.

Stores are closing at alarming rate.

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Earlier this year, Sears closed its Enfield Square Mall location in CT along with Kmart locations in Fairhaven, Great Barrington and South Attleboro, as well as a Sears Auto Center in Swansea.

Sears is hardly the only retailer shuttering locations.

Sears is the last department store in Springfield's Eastfield Mall.

But Sears, along with Macy's and J.C. Penney, are "future-proofing their offerings by closing stores", according to a new report from retail think tank Fung Global Retail & Technology.

"However, to achieve that goal and to right-size its business, the Sears Canada Group anticipates that a number of stores will have to be closed, operating costs reduced, business lines exited, and head count reductions implemented", Sears Canada said in documents filed with the court.

Sears' agreement with Seritage lets it end its leases at unprofitable stores in exchange for payment of one year's rent.

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