After its journey through bankruptcy, Sears is getting ready to open its first batch of smaller stores that won’t carry clothing but will instead focus on appliances, mattresses and home services.
A bankruptcy judge on Thursday blessed a $5.2 billion plan by Sears chairman and biggest shareholder to keep the iconic business going.
Sears will live on — at least for now.
Sears received another possible lifeline Tuesday when the company’s chairman and largest shareholder promised to line up the necessary financing to keep the struggling department store chain afloat.
Before there was Amazon — or, for that matter, Home Depot or Walmart or Kmart — there was Sears.
From its beginnings as a mail-order watch business in Minneapolis 132 years ago, the company grew to become America’s everything-under-one-roof store and the biggest retailer in the world.
Sears, a back-to-school shopping destination for generations of kids, has said that after years of losing money that there is “substantial doubt” it will be able to keep its doors open.
Sears Holdings Inc. recorded a hefty second-quarter loss Thursday on another sales slump, raising more concerns about the future of a company that once was a staple of American shopping.
It will be sad to see this American icon disappear from the local landscape.
An anchor since Leigh Mall’s inception nearly four decades ago, Columbus’ Sears store permanently will close April 29, as part of a nationwide corporate restructuring in response to sluggish sales, amid a still-shaky economy.
Columbus’ Sears store will close April 29. In December, Sears Holding Corp. announced the Columbus store is one of three in the state to be closed, due to poor profit performance. Stores in Jackson and McComb, as well as 100 to 120 Sears and Kmart stores across the country, were also announced for closure.