Local Sears slated to close, liquidation sales start soon


The latest round of closures - which will begin in early September - includes more than a dozen Kmart locations, as well as Sears stores in Atlanta, Indianapolis and Tampa.

Sears also hinted at more closings to come, saying the 63 stores were among 100 stores the company had identified as unprofitable.

Sears Holding's CEO and chairman said it had been a "challenging" quarter but that it remained optimistic.

See "Related Links" on the right side of this story for a full list of the 72 Sears and Kmart stores slated to close.

Sears has cut its store count in half within the last five years.

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The company stated it would close its last Chicago location, which had been open for 80 years, in April. "By diminishing the quality of the in-store experience, Sears has basically trained consumers to avoid going inside". The company had 894 stores as of May 5, down from 1,980 stores in 2013. There are 17 traditional Sears stores in MI malls.

Sears announced recently that shoppers could buy any brand of tires on Amazon.com, have them shipped to a Sears Auto Center and then bring in their vehicle to get them installed. The Sears attached to Battlefield Mall in Springfield, Mo., and a freestanding Sears in Cape Girardeau were also up for auction. On Thursday, its shares plunged by more than 12 percent to $2.81.

After the three Sears stores close, the retailer will still have eight stores in the Dallas-Fort Worth market. Now it's hired a second set of advisers to re-shop its Kenmore appliance brand along with some home-services businesses. The profit was due to a $492 million gain tied to the sale of the Craftsman brand.

The lower sales resulted in a $424 million loss for Sears Holdings (SHLD), the holding company that owns by Sears and Kmart.