Sears to close five KMART stores in California

News
Sears_closing_46_more_stores_nationwide_0_52835983_ver1.0_640_360_1541741737927.jpg

Sears is closing 80 more stores as it teeters on the brink of liquidation.

Those closures include five stores in California. 

The iconic retailer, once the nation’s largest department store chain, set a deadline of Friday for bids for its remaining stores to avert closing down completely.

The retailer that began out as a mail order catalog in the 1880s has been in a slow death spiral, hobbled by the Great Recession and then overwhelmed by rivals both down the street and across the internet.

The 80 stores are due to close by March. That’s in addition to 182 stores already slated for closure, including 142 by the end of 2108 and 40 by February. The company filed for Chapter 11 bankruptcy protection in October, saying at the time it would close more than 20 percent of all stores, keeping open only its 500 most profitable locations.

Sears Holdings Corp., which also runs Kmart, joins the list of retail brands taken over by hedge funds that collapsed under the weight of debt forced upon them.

Under hedge fund manager Eddie Lampert, Sears has bought time by spinning off stores and putting on the block the brands that had grown synonymous with the company, such as Craftsman. The company’s chairman and biggest shareholder, Lampert loaned out his own money and put together deals to keep the company afloat and to turn whatever profit he could for ESL hedge fund. Lampert and ESL have been trying to buy the rest of Sears for up to $4.6 billion in cash and stock.

But no official bid appeared to have emerged as of 4 p.m. E.T. Friday. Sears declined to comment.

  • Kmart, 7055 East Broadway, Tucson, AZ
  • Kmart, 2180 E Mariposa Rd, Stockton, CA
  • Kmart, 20777 Bear Valley Rd, Apple Valley, CA
  • Kmart, 1000 San Fernando Rd, Burbank, CA
  • Kmart, 2875 Santa Maria Way, Santa Maria, CA
  • Kmart, 2505 Bell Rd, Auburn, CA
  • Kmart, 295 Hartford Turnpike, Vernon, CT
  • Kmart, 200 Irwin Ne Fort, Walton Beach, FL
  • Kmart, 6126 Hwy 301, Ellenton, FL
  • Kmart, 11 Sherwood Square, Peru, IN
  • Kmart, 2940 Veterans Blvd, Metairie, LA
  • Kmart, 8980 Waltham Woods Rd, Baltimore, MD
  • Kmart, 201 Ninth St, S E Rochester, MN
  • Kmart, 155 Twin City Mall, Crystal City, MO
  • Kmart, 12057 Highway 49 Delmar Plaza, Gulfport, MS
  • Kmart, 980 Brevard Rd, Asheville, NC
  • Kmart, 110 112 Bost Rd, Morganton, NC
  • Kmart, 4841 Arendell St, Morehead City, NC
  • Kmart, 1900 S Washington St, Grand Forks, ND
  • Kmart, 1515 W 3 Rd, Alliance, NE
  • Kmart, 213 Highway 37, E Toms River, NJ
  • Kmart, 1705 S Main St, Roswell, NM
  • Kmart, 308 Dix Avenue, Queensbury, NY
  • Kmart, 1020 Center Street Grand Central Plaza, Horseheads, NY
  • Kmart, 121 Bolivar Road, Wellsville, NY
  • Kmart, 1251 State Rte 29 Ste 1O Greenwich Plaza, Greenwich, NY
  • Kmart, 7701 Broadview Road, Cleveland, OH
  • Kmart, 620 Plaza Dr, Fostoria, OH
  • Kmart, 400 N East Circle Blvd, Corvallis, OR
  • Kmart, 996 West View Park Drive, Pittsburgh, PA
  • Kmart, 2873 W 26th Street, Erie, PA
  • Kmart, 1143 Broad St, Sumter, SC
  • Kmart, 1111 E North St, Rapid City, SD
  • Kmart, 1805 E Stone Dr, Kingsport, TN
  • Kmart, 217 Forks Of River Pkwy, Sevierville, TN
  • Kmart, 4110 E Sprague Ave, Spokane, WA
  • Kmart, 1450 Summit Avenue, Oconomowoc, WI
  • Sears*, 2050 Southgate Rd, Colorado Spgs, CO
  • Sears*, 1650 Briargate Blvd, Colorado Spgs, CO
  • Sears*, 3201 Dillon Dr, Pueblo, CO
  • Sears, 1700 W Intl Speedway Blvd, Daytona Beach, FL
  • Sears*, 1500 Apalachee Pkwy, Tallahassee, FL
  • Sears*, 347 Westshore Plz, Tampa, FL
  • Sears*, 1441 Tamiami Trl Pt, Charlotte, FL
  • Sears*, 9409 Us Highway 19 N Ste 101, Port Richey, FL
  • Sears*, 150 Pearl Nix Pkwy, Gainesville, GA
  • Sears*, 4480 Sergeant Rd, Sioux City, IA
  • Sears*, 235 Saint Clair Sq, Fairview Hts, IL
  • Sears*, 7200 Harrison Ave, Cherry Valley, IL
  • Sears*, 7700 E Kellogg Dr, Wichita, KS
  • Sears, 4400 Veterans Mem Blvd, Metairie, LA
  • Sears*, 2306 N Salisbury Blvd, Salisbury, MD
  • Sears*, 5500 Harvey St, Muskegon, MI
  • Sears, 27600 Novi Rd, Novi, MI
  • Sears, 2000 N E Court, Bloomington, MN
  • Sears*, 1620 Guess Rd, Durham, NC
  • Sears*, The Streets Of Southpoint, Durham, NC
  • Sears*, 7424 Dodge St, Omaha, NE
  • Sears*, 6400 O St, Lincoln, NE
  • Sears*, 3450 S Maryland Pkwy, Las Vegas, NV
  • Sears*, 10 Miracle Mile Dr, Rochester, NY
  • Sears, 5053 Tuttle Crossing Blvd, Columbus, OH
  • Sears*, 1400 Polaris Pkwy, Columbus, OH
  • Sears*, 1475 Upper Valley Pike, Springfield, OH
  • Sears*, 501 Medford Ctr, Medford, OR
  • Sears*, 200 Park City Ctr, Lancaster, PA
  • Sears*, 5256 Route 30, Greensburg, PA
  • Sears*, 5580 Goods Lane Ste 1005, Altoona, PA
  • Sears, 1000 Rivergate Pkwy, Goodlettsvlle, TN
  • Sears, 2021 N Highland Ave, Jackson, TN
  • Sears*, 201 S Plano Rd, Richardson, TX
  • Sears*, 4310 Buffalo Gap Rd, Abilene, TX
  • Sears*, 851 N Central Expwy, Plano, TX
  • Sears*, 6001 W Waco Dr, Waco, TX
  • Sears*, 7701 1-40 W Ste 400, Amarillo, TX
  • Sears*, 2100 S W S Young Dr, Killeen, TX
  • Sears, 3100 Highway 365, Port Arthur, TX
  • Sears*, 1531 Rio Rd, E Charlottesville, VA
  • Sears*, 1321 N Columbia Center Blvd Suite 455, Kennewick, WA
  • Sears, 4301 W Wisconsin Ave, Appleton, WI
  • *Sears Auto Center at the property set to close in late January

WHAT OTHERS ARE CLICKING ON:

>>MORE STORIES

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Latest News

More News