In total, 80 Sears and Kmart stores are on the latest closure list for the iconic retail chain. The Wicomico County Sears' auto center is scheduled to close in January. That's in addition to the closure of 46 unprofitable stores that had already been announced on October 15. Lansing's Sears has dodged another round of closings.
The Sears at the Towne East Mall on East Kellogg is among 80 that will be closing nationwide in March.
Sears Holdings came close to losing a lot of assets, the corporation owns Sears and Kmart stores nationwide.
Indeed, many of them have been clamoring for the company to liquidate, according to court documents, arguing that Sears has been hemorrhaging money for years and hasn't turned a profit since 2010.
Lampert bought Sears and merged it with Kmart in 2005 to form Sears Holdings.
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Transform Holdco LLC, an affiliate of Lampert's ESL Investments hedge fund, said it hoped to keep 425 stores open and 50,000 people working.
Spokespersons for both Sears and ESL declined to comment.
Some of Lampert's bid relies on $1.8 billion of Sears debt that ESL already holds and plans to forgive to back the offer, the sources said. Last week, US Bankruptcy Court Judge Robert Drain gave initial approval for the $60 million sale of Sears' home improvement business to Service.com.
On Friday, the company announced 80 new closures as they try to avoid being shut down completely.
Sears sold everything from Craftsman tools to Kenmore appliances, but it lost its footing in the 1980s with expansions into financial products such as banking, mortgages, insurance and credit cards.