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Sears to close Fairview Heights location

30 December 2018

The stores are expected to close by March; with liquidation sales starting in January.

When the Hoffman Estates, Illinois-based company filed for Chapter 11 bankruptcy protection in October, it had 687 stores and 68,000 workers.

Also, the Sears at Westmoreland Mall on Route 30, just outside of Greensburg, will shut its doors as well. But the only public bidder for those assets is the hedge fund controlled by Sears Chairman Eddie Lampert, who is the company's largest creditor and served as CEO until its bankruptcy.

Employees at the Kmart in Apple Valley said Friday they could not comment on the closure and referred questions to the corporate office.

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Lampert and ESL have been trying to buy the rest of Sears for up to $4.6 billion in cash and stock. He said he meant to bid $4.6 billion for 500 stores and other operating assets, including the Kenmore appliance brand. The rules give Sears flexibility to extend the deadline or make other changes that might promote more bids. The company says it has announced the latest round of closings as part of a financial restructuring.

Earlier in the year, Goleta's Kmart closed, with Target intending to take over the space at Storke Road and Hollister Avenue. Last week, US Bankruptcy Court Judge Robert Drain gave initial approval for the $60 million sale of Sears' home improvement business to Service.com.

Earlier on Friday, Sears said it was closing 80 more stores. There are smaller Sears Hometown stores in many Minnesota communities.

Sears to close Fairview Heights location