Sears announces more store closures, including 3 in Bay Area

Dwayne Harmon
December 29, 2018

The company released a list of the closing Sears and Kmart locations online and released the following statement.

A Kmart store in Burbank is one of 80 locations that will be shuttered by Sears Holdings as the company teeters on the brink of bankruptcy liquidation, the retailer announced Friday.

The Sears Auto Centers at those Sears stores also will be closing, said the release.

Bids were due Friday at 3 p.m.

Total costs related to closing 73 Sears stores and 28 Kmart stores in the third quarter ended November 3 amounted to $229 million, the company said earlier this month.

Sears closed an additional 182 stores after filing for Chapter 11 bankruptcy protection in October.

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

Liquidation sales are scheduled to begin in two weeks, the company said. Lampert and his hedge fund, ESL Investments Inc., also didn't respond to messages. Sears declined to comment.

It's unclear how many are employed by Sears in the Tri-Cities. The closures include Sears stores in the Rockford suburb of Cherry Valley and in downstate Fairview Heights, near St. Louis, according to a list from the retailer.

The company, which had almost 700 stores at the time of its bankrutpcy filing, has been seeking a bidder willing to keep 500 of the remaining stores open as part of a reorganization of the business.

However, Lampert hasn't officially submitted a bid.

Most of the 80 stores will shut down by late March.

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