Published: Sat, December 29, 2018
Finance | By Jaime Brady

Sears at Charlottesville Fashion Square to Close

Sears at Charlottesville Fashion Square to Close

Sears also owns Kmart, and the Waynesboro location will close in early January.

Up against a deadline to find its way out of bankruptcy, Sears announced Friday it planned to close 80 more stores in March.

As recently as 2012 the company operated 4,000 Sears and Kmart stores. It filed for bankruptcy in October with about 700 stores still open, but plans to close 142 unprofitable locations.

Robin Lewis, a New York-based retail consultant, questioned whether Lampert is honestly trying to save the business and bring it out of business. And it comes as it's lacking support from many vendors who have been reluctant to work with Sears as they fear they won't get paid. The company set Friday as a deadline for bids on its remaining stores in an attempt to avoid the closings.

Sears told workers this week that it expects to begin liquidation sales at the 80 stores (addresses listed below) in two weeks.

New York's Skyline Suddenly Lit Up With A Blue Glow
Lights flickered in the borough, the explosion could be seen lighting up the skyline and sky turned an eerie teal blue. Authorities in NY on Thursday said they were looking into a "transformer incident" following reports of an explosion.

Dems Protect 'Illegal Immigrants' Over Americans — WH Spins Shutdown
Presumably he meant the next general election, which will be in November 2020 when he is on the ballot for a second term. Roughly 420,000 workers were deemed essential and are working unpaid, while another 380,000 have been furloughed .

Donald Trump makes surprise visit to United States troops in Iraq
President Donald Trump kisses first lady Melania Trump during a hanger rally at Al Asad Air Base, Iraq, Wednesday, Dec. 26, 2018. Trump left behind a slate of troubles in Washington, including a partial government shutdown and an unsteady economy.

Employees at the two stores were informed of the pending closure on Thursday.

A hedge fund controlled by Sears chairman Eddie Lampert is offering $4.6 billion.

A committee of other creditors, including vendors and landlords, has proposed that Sears instead move forward with plans to shut down the business, closing all the stores and liquidating its inventory and other assets.

While Lampert has said he intends to make the bid, he has not formally filed one with the bankruptcy court.

Like this: