Sears at Crossroads slated to close in early 2019

Adjust Comment Print

The company filed for Chapter 11 bankruptcy protection in October.

The closing includes one Kmart location in IN at 11 Sherwood Square in Peru.

Liquidation sales are scheduled to begin in two weeks, the company said.

Lampert put forward a $4.6 billion proposal to buy the company out of bankruptcy through his hedge fund, ESL Investments, on December 6.

The accompanying Sears Auto Center at these Sears stores will also be closing, the release says.

Failing a successful purchase bid, Sears is facing the possibility of liquidation, ending the company's 125-year run as one of the country's best-known retailers.

Tsunami Kills 3 Members of Indonesian Rock Band
At least 281 people have died from the tsunami , which struck the Indonesian coastline without warning Saturday night. The tsunami's impacts were compounded by a tidal wave caused by the full moon , BMKG said in a news release.

Earlier this month, Sears said it would take a charge of about $443 million arising from store closures, Reuters reported, citing a regulatory filing.

Sears could choose to extend the deadline it set to give potential bidders more time to finalize plans or secure financing.

Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million. NY time under procedures outlined in court filings, and Lampert has been the only potential buyer aiming to keep the business running.

The closings come on top of 40 other store closures Sears expects to complete in February.

The store, located at 2873 W. 26 St.in Millcreek, is one of 80 Sears and Kmart stores that will be shut down in this latest round of closings, according to CNBC.

But no official bid appeared to have emerged as of 4 p.m. Friday.

Comments