Sears releases closure list, did Terre Haute's store make the cut?

Sears releases closure list, did Terre Haute's store make the cut?

Sears releases closure list, did Terre Haute's store make the cut?

At its peak in the 2000s, there were 3,500 Sears stores and 2,171 Kmart locations throughout the country. One analyst earlier this year described the company as dealing with a "toxic mix of issues", including unattractive stores, dramatically falling sales and high debt levels.

The Eastland Mall store in Bloomington is not on the list.

"While we had a challenging first quarter, we remain focused on improving our financial performance and enhancing our liquidity", Sears Chief Executive Officer Eddie Lampert said.

"Amazon is hurting these traditional retailers".

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Kmart joins Toys R Us Bed Bath and Beyond on the list of major retailers that have closed its doors in Laredo. All but the Cambridge and Peabody Sears stores also have an auto center.

"However, because there is a unique arrangement with Sears, where they actually own the building and the surrounding parking lot, it is premature to make any announcements about the store".

The Eastfield Mall's owners, New Jersey's Mountain Development, have said their plan is to "demall" the property on Boston Road, demolishing most of the buildings and replacing it with a mixed-use housing, shopping, dining and office complex.

Shares of Sears Holdings Corp., based outside of Chicago in Hoffman Estates, Illinois, fell more than 4 percent before the opening bell Thursday.

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Earlier on Thursday, the retailer announced that it would close 72 stores but, pulled nine stores from the list that will also be evaluated further.

As of May 5, Sears Holdings said its total cash balances were $466 million which includes restricted cash of $280 million.

Sears said on Thursday it had identified 100 non-profitable Kmart and its namesake outlets and would shut 72 of them by the end of the third quarter. Comparable-stores sales slid 9.5 percent at Kmart stores, and 13.4 percent at Sears.

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