2 Washington Sears, Kmart To Close As Buyer Deadline Approaches

SPOKANE, WA - Sears announced that it is closing 80 more stores and the once-iconic retailer could very well be on its last legs.

A report from CNBC on Thursday said Sears could face liquidation if hedge fund owner Eddie Lampert doesn’t make a bid for the company by Friday, Dec. 28. Lampert’s hedge fund, ESL Investments, was the only one offering to buy Sears as a whole, CNBC reported.

As the deadline for a buyer inched closer, Sears announced the additional closures. The stores will close in late March 2019 and liquidation sales at the stores will begin in two weeks, according to Sears. The Sears Auto Centers at these stores will also be closing.

The 80 closures announced on Friday are in addition to the 40 closures announced in November. Those 40 stores are slated to close in February 2019.

Two Sears/Kmart locations in Washington are affected by the latest closures:

• Kmart Spokane, 4110 E Sprague Ave
• Sears Kennewick, 1321 N Columbia Center Blvd Suite 455

The Hoffman Estates, Illinois-based company filed for Chapter 11 bankruptcy in October, announcing the closure of 142 unprofitable locations at the time.

Patch file photo