Sears Closing 80 More Stores In March, Faces Possible Liquidation

Virginia Carson
December 29, 2018

Eddie Lampert is asking for more time to round up financing for his bid to keep Sears Holdings Corp. alive, according to people with knowledge of the matter.

The Sears Auto Centers at those Sears stores also will be closing, said the release. No bid was made as of 4:45 p.m., Business Insider reported.

This latest round of closings would take Sears closer to 400 remaining stores, not the 500 it was seeking to continue to operate.

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The 80 stores are due to close by March.

Sears filed for Chapter 11 bankruptcy protection in October, weighed down by years of declining sales and massive debt. NY time under procedures outlined in court filings, and Lampert has been the only potential buyer aiming to keep the business running.

The hedge fund owner of Sears announced plans Friday to close 80 stores, including two in Maryland, amid a looming bankruptcy deadline.

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Omaha's last Sears location, at Crossroads Mall, will go the way of many before it, closing for good in 2019.

Workers were told this week that liquidation sales are expected to start at the affected locations in two weeks, CNBC reports.

You can find the complete list of locations slated for liquidation below.

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Lampert, the company's largest creditor who also served as CEO until its bankruptcy, has until Friday to make his bid official.

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