Kmart in Burbank to Close

Sears Holdings Corp. announced Friday that it will close its Kmart store in Burbank — one of 80 closures nationwide — as the Illinois retailer faces impending bankruptcy. The store, located at 1000 N. San Fernando Road, is scheduled to close in late March. A liquidation sale will begin in two weeks. The closure comes two months after Sears Holdings filed for bankruptcy protection in October. According to a report by CNBC.com, Sears Chairman Eddie Lampert submitted a bid to buy the company Friday in hopes of staving off more closures and potential liquidation. In July, the company closed 40 Sears and Kmart locations, including one Sears department store at the Janss Marketplace in Thousand Oaks.