Kohl's is closing 27 underperforming stores around the U.S. as ailing big-box retailers continue shrinking their footprint.

Most retailers and supermarkets, including Kohl's, will be open for holiday shopping on New Year's. The store timings will differ on New Year's Eve and New Year's Day.

Kohl's is closing 27 stores across several states, with California leading the charge, as the retailer likely hopes to avoid bankruptcy due to underperforming locations. The stores will be closed by ...