You may have heard the news that Sears will be closing as many as 120 of its Kmart and Sears discount and department stores after holiday sales slumped. If you're wondering how this might affect the Airdrie Sears store on Main Street, owner Karim Kassam says don't worry.

Kassam says the problem arose when Sears bought K-Mart back in 2005 and the recession hit. Sagging sales over the holidays in the U.S. saw shares plummet 27 percent to their lowest level in 3 years.