Published: Sun, December 30, 2018
Markets | By Jeffery Armstrong

Sears at Park City Center in Lancaster among those closing in March

Sears at Park City Center in Lancaster among those closing in March

Liquidation sales are expected to begin in two weeks.

CNBC reported Sears was still operating a little under 700 stores when it filed for bankruptcy on October 15. The Wicomico County Sears' auto center is scheduled to close in January. The company's chairman, Eddie Lampert, is believed to be attempting to purchase the company through the hedge fund he manages, ESL Investments.

A manager at the Kmart in Fostoria declined to answer questions, such as how many people are employed at the store.

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On the new list of stores to close are the Sears location at Westshore Plaza and the store at 9409 US 19 in Port Richey, as well as the Kmart store on Highway 301 in Ellenton.

Anyone who wants to buy Sears Holdings out of Chapter 11 bankruptcy has only a few hours left to make a move, but no one has so far.

Sears is an original anchor tenant at the Mall of America, where its three-level store opened in 1992.

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The closings are part of the company's "processes to accelerate its strategic transformation and facilitate its financial restructuring".

Sears told the bankruptcy court it has interest from multiple parties.

According to Newsweek, Sears has less than 24 hours for a bidder to save the store from complete liquidation. But he will be hearing from creditors again at hearings set for next month.

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Earlier this month, the hedge fund run by Sears Chairman Edward Lampert said it would offer about $4.6 billion for numerous retailer's remaining assets, including about 500 Sears and Kmart stores and its well-known Kenmore and DieHard brands.

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