Sears To Close 80 More Stores As Deadline For Potential Buyers ApproachesFacing a Friday deadline for potential buyers to submit bids for its remaining assets, Sears has announced it is closing 80 more stores by March, including two in Illinois.
Sears And Kmart Closing 40 More Stores By February 2019, Including Last Chicago Kmart
Sears Files For Bankruptcy; Will Close More Than 180 StoresFacing massive debt and declining sales, Sears has filed for bankruptcy protection, and will be closing more than 180 stores by the end of the year.
Facing Deadline For $134 Million In Debt, Sears Likely To File For BankruptcyAll signs point to a bankruptcy filing in the next few days. Sears' stock has fallen more than 50% in the last five days to around 35 cents a share.
With Few Seeing Second Act For Sears, Company Shares RoutedSears is based in Hoffman Estates and still employs 89,000 people.
Sears Has "Substantial Doubt" About Its FutureSears, once the monolith of American retail, says that there is "substantial doubt" that it will be able to keep its doors open.
More Layoffs For Sears, Amid Financial LossesIllinois-based Sears is shedding 250 jobs, amid a new quarterly report showing the retailer has lost money and share value.
Sears Might Sell Canadian OperationsThe news comes as Sears Holdings Corp.'s chairman, the billionaire hedge fund manager Eddie Lampert, has been under intense pressure to turn around its business. He took over as CEO in February 2013.
Report: Sears To Offer Cash Rather Than Health Insurance PlansTwo big employers, including one based in the Chicago area, are changing the way they provide health insurance to their workers.
Sears To Lay Off 100 Employees At Hoffman Estates HQSears announced Thursday that 100 people will be laid off at its Hoffman Estates headquarters, despite millions of dollars in forthcoming income and property tax incentives.
New Illinois Law Raises Earned-Income Tax Credit Legislation aimed at helping poor Illinois families keep more of what they earn was signed into law Tuesday, a month after Gov. Pat Quinn signed companion legislation granting tax breaks and incentives aimed at keeping two big employers in the state.
Sears Lists First 79 Stores To Close, None In IllinoisSears has released a list of the first 79 stores to close under a plan to shutter 100 to 120 Sears and Kmart locations due to poor holiday sales.