24 June, 2017
The fate of the store has been up in the air for several months after Seritage Growth Properties went before the Watchung Planning Board on May 16 with a plan to demolish both the retail store and the adjacent Sears Auto Center. A liquidation sale will begin June 30, while the auto center will be converted to a DieHard Auto Center. It's a remarkable decline for the former rivals, which once dominated the retail landscape.
The only Chicago-area store among the 20 closing is on North Harlem Avenue in Galewood, Riefs said. "We understand that members may be disappointed when we close a store, but our Shop Your Way membership platform, websites and mobile apps allow us to maintain these valued relationships long after a store closes its doors".
On Thursday, Sears announced the opening of its first Sears Appliances & Mattresses concept store, located in Pharr, Texas.
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These closures come in addition to the closing of 226 stores - 164 Kmart stores and 62 Sears stores- already announced this year, according to research firm Fung Global & Retail Technology, which tracks retailers' closings. "Based on shopper preference data, we expect Macy's to retain the highest share of sales when it closes stores and Sears to see the lowest sales-retention rates". Shareholders agreed on Kmart Holding Corp.'s $12.3 billion acquisition of Sears, Roebuck and Co., helping the two struggling rivals to combine into the nation's third-largest retailer.
The other six locations are Sears Home stores in Calgary, Toronto and four smaller Ontario cities (Kingston, Orillia, Sudbury, Windsor). A JC Penney closed in 2011, and the Macy's closed in 2016.