Sears closing 80 more stores in March, includes Mall of America location

Andrew Cummings
December 29, 2018

Liquidation is expected to begin in January.

Sears has announced another round of store closures that will happen at the end of the first quarter next year.

The bankrupt company also had previously set Friday as the deadline for potential buyers to bid for Sears' assets.

The latest nail in the coffin for Sears stores came Friday in an announcement that an additional 80 stores will close - including the WestShore Plaza location. The rules give Sears flexibility to extend the deadline or make other changes that might promote more bids.

The largest USA toy retailer, Toys "R" Us, tried to emerge from its 2017 bankruptcy filing but was forced to liquidate six months later after creditors lost confidence in its turnaround plan.

US Bankruptcy Court Judge Robert Drain, who is hearing the case, has so far allowed Sears to proceed with plans to stay in business. That's in addition to the closure of 46 unprofitable stores that had already been announced on October 15.

In this November 2018 photo, a sign in the window at Sears promises that 'This isn't goodbye, ' at the Livingston Mall in New Jersey. He has propped up the company with funding for several years but has not submitted or lined up a bid, CNBC reported.

The store at 1000 San Fernando Road is expected to be closed by late March 2019, along with 79 other Kmart and Sears locations across the country.

In bankruptcy court filings, Sears has said there is interest from multiple parties, but the only public bidder for those assets as of Thursday was a hedge fund controlled by Sears Chairman Eddie Lampert, the company's largest creditor.

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