After closing about 400 stores in the last year, Sears has confirmed that it is set to close 63 additional locations in September.
These closures include 48 Sears stores and 15 Kmarts, according to the company.
“We continue to evaluate our network of stores, which are a critical component in our transformation, and will make further adjustments as needed and as warranted,” the company says in a statement.
Lampert filed a letter with the Securities and Exchange Commission, asking for permission to “engage” with these partners so ESL Investments can “put forward a definitive proposal that will result in the most benefit to Sears.”
The company’s decline has been years in the making, but has recently accelerated. Its stock has dipped in value more than 50 percent in the past 12 months, according to CNBC.
In March, the retailer announced its 2017 year-end financial results, revealing revenue of $16.7 billion, for a $5.4 billion decrease from 2016.