Just after JCPenney released a list of 138 stores it will close this year, including one in Richmond, fellow struggling retailer Sears has cast doubt on the future of its own stores.

The retailer, long a staple in back-to-school shopping, said that after losing money for years, there is “substantial doubt” that Sears and Kmart stores (Sears Holdings Corp. owns Kmart) will be able to stay open in its annual 10-K filing with the federal government.

According to Sears’ and Kmart’s websites, there are 20 existing Sears stores in the Bay Area, as well as six Kmart stores in the region, leaving 26 potential big-box vacancies to fill.

Sears’ chief financial officer, Jason Hollar, tried to soothe investors in a blog post Wednesday on Sears Holdings’ website, saying that although “regulatory standards” required Sears to issue the “substantial doubt” statement because of its potential risk, the retailer “remains focused on executing our transformation plan and will continue to take actions to help ensure our competitiveness and ability to continue to meet our financial obligations.”

Sears reported a $2.2 billion loss on sales of $22.1 billion for its fiscal year that ended Jan. 28. The company has lost $10.4 billion since 2011, which is also the last year that it made a profit. Its stock price dove by 12.3 percent to close at $7.98 on Wednesday.

“They’re past the tipping point,” Ken Perkins, who heads the research firm Retail Metrics LLC, told the Associated Press. “This is a symbolic acknowledgment of the end of Sears of what we know it to be.”

Experts say Sears would have to dramatically decrease its store count to remain viable. It currently has 1,430 stores and said earlier this year it would close 108 Kmart and 42 Sears locations. Kmart has a presence in large East Bay cities like Antioch, Concord and Hayward, while Sears still has 20 stores in mostly mall-based locations around the Bay Area.

The news comes as other traditionally brick-and-mortar retailers have announced plans for closures, including Macy’s, which said it will close about 100 stores this year, and JCPenney, which will close 138 stores, including the Hilltop mall location in Richmond.

While the Bay Area is a relatively strong retail market, the area is certain to see more big-box mall anchors like Macy’s, Sears and JCPenney close as those companies struggle, said Jeff Badstubner, senior vice president at real estate firm JLL.

Take a look at the map below to see where existing Sears and Kmart locations are in the Bay Area.