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Kmart stores closing in Richmond and Midlothian

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Posted: Thursday, December 29, 2011 2:21 pm

Two Kmart stores in Richmond and Midlothian and a Sears store in Norfolk are among more than 100 to be closed nationwide.

The parent company of Sears and Kmart is closing stores to raise cash - a move that sparked speculation about whether the 125-year-old retailer can avoid a death spiral fed by declining sales and deteriorating stores.

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