Sears set to liquidate remaining stores, assets: report

Remaining Ad Time Ad - 00:00

NEW YORK (HOI) — Sears Holdings Corp. will ask a bankruptcy judge to allow it to liquidate its remaining stores and assets, Reuters reports. 

Reuters reported the company could not come to an agreement on Chairman Edward Lampert’s $4.4 billion takeover bid.

The 126-year-old department store chain has suffered closures across central Illinois, with Peoria’s Northwoods Mall location the sole remaining outlet still open in the Peoria-Bloomington area. The Sears store at Bloomington’s Eastland Mall closed last year.

More than 68,000 employees could lose their jobs if the chain wins approval to liquidate, Reuters reported.

Sears Holdings Corp. also owns the Kmart chain of stores.

Tim Shelley

Tim Shelley

Social Media & Digital Content Manager

More News

STORM TEAM ABC FORECAST
Havana
79°
Macomb
80°
Lincoln
Lacon
82°
Bloomington
78°
Connect with HOI ABC
Top Stories
Scroll to top
Skip to content