spokesman

Sears Announces 20 More Store Closings, Including 1 in Chicago

Real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings— 18 Sears stores and two Kmart stores — in a government filing Friday

Sears is closing another 20 stores as the ailing retailer tries to turn around its business. 

Real estate investment trust Seritage, which owns the 20 real estate properties, confirmed the closings— 18 Sears stores and two Kmart stores — in a government filing Friday.

In 2015, Sears Holdings Corp. sold 235 Sears and Kmart store locations to Seritage as part of an agreement in which Sears leases the stores back from the real estate company. 

A Sears spokesman said the stores will close in mid-September and liquidation sales will begin by the end of June. 

According to the Chicago Tribune, the store at 1601 N. Harlem Ave. is the only Chicago-area store affected, leaving one location left in the city.

This is an addition to the closing of a total of 226 stores — 164 Kmart stores and 62 Sears stores— announced so far this year, according to research firm Fung Global & Retail Technology, which tracks retailers' closings.

Copyright AP - Associated Press
Contact Us