Sears closing 80 more stores -- 2 in MI

Sears closing 80 more stores -- 2 in MI

Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million.

Sears previously announced its stores at Citrus Park Town Center in Tampa and at Country Side Mall in Clearwater, as well as Kmart stores at 5400 E. Busch Boulevard in Tampa and 1602 W. Brandon Boulevard in Brandon.

Bids were due Friday at 4 p.m.

Suffering from falling sales and heavy debt, it planned to close 142 of about 700 stores and cut thousands of jobs.

Sears is not indicating how many employees are affected by the closure.

The company, which had almost 700 stores at the time of its bankrutpcy filing, has been seeking a bidder willing to keep 500 of the remaining stores open as part of a reorganization of the business.

The iconic retailer, once the nation's largest department store chain, set a deadline of Friday for bids for its remaining stores to avert closing down completely. Liquidation sales at the stores should begin in two weeks, Sears said. Lampert and his hedge fund, ESL Investments Inc., also didn't respond to messages. The closure of another 40 stores was announced in November.

Lampert has to make his bid official by the end of the day.

A committee of other creditors, including vendors and landlords, has proposed that Sears instead move forward with plans to shut down the business, closing all the stores and liquidating its inventory and other assets.

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