Colorado Springs and Pueblo Sears stores closing
- Author: David Armstrong Dec 29, 2018,
Dec 29, 2018, 2:03
Sears announced Friday that it is closing 80 more stores, including the one on East North Street. The closures include Sears stores in the Rockford suburb of Cherry Valley and in downstate Fairview Heights, near St. Louis, according to a list from the retailer.
Liquidation sales at the stores are expected to begin in the second week of January.
The store at 1000 San Fernando Road is expected to be closed by late March 2019, along with 79 other Kmart and Sears locations across the country.
Store employees were notified of the closings on Thursday, the company said.
The last remaining viable option appears to be a $4.6 billion proposal put forward by Sears Chairman Eddie Lampert, who would buy out the company through his hedge fund ESL Investments.
Once the nation's biggest retailer, Sears was also its first "everything store", stocking items from jewelry to clothing, from hardware to prefabricated homes.
While Lampert has said he intends to make the bid, he has not formally filed one with the bankruptcy court. As part of its bankruptcy deal, the once iconic retail chain said it would close more than 170 of its 700 stores by the end of the year.
It's unclear how many are employed by Sears in the Tri-Cities.
These sources also told CNBC that ESL Investments is the only party offering to buy Sears as a whole.
Lampert poured millions of dollars through ESL into Sears, which struggled for years with losses and debt.