Retail Giant Sears to Announce Major Store Closures

GameStop to close significant number of stores this year

MILWAUKEE, Wis. - GameStop, a popular video game retailer, is planning to close a significant number of stores across the country this year.

The company announced the news in a statement, saying it will be closing around 100 to 150 stores in the United States and Canada. The closures are part of a larger effort to restructure the company and improve its financial performance.

GameStop has been struggling in recent years as the video game industry has shifted towards digital downloads and streaming services. The company has been trying to adapt to these changes by closing underperforming stores and focusing on its online business.

The closures are expected to affect around 1,000 employees, although GameStop says it will be offering severance packages and job placement services to those who are let go.

The first wave of closures is expected to happen in the next few weeks, with more stores closing throughout the year.

GameStop has been a staple in many communities for decades, and the closures may be a blow to some of those areas. The company has been working to revamp its business model and focus on its online presence, but the closures are a sign that the company is still struggling to adapt to the changing retail landscape.