Here’s a map of all 80 stores that Sears and Kmart are shuttering in March

Sears is expected to close another round of stores early next year, as the bankrupt department store chain now tries to stay afloat via a $ 4.4 billion bid from its chairman, Eddie Lampert.
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Sears plans 50 to 80 store closures as challenges mount for Lampert’s bid to keep retailer alive

The retailer is weighing closing to 50 to 80 more stores at the end of the year, people familiar with the situation tell CNBC. That could bring Sears' footprint closer to 400 stores. Lampert has said he wants to buy roughly 500 stores.


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Sears Details $443M in Expenses to Close 142 Stores

Sears Holdings Corp. detailed the hefty cost of closing 142 stores in a regulatory filing Tuesday. The store closures were revealed on Oct. 15 when the company filed its voluntary Chapter 11 petition for bankruptcy court protection.
Sears said it expects to “incur charges of $ 443 million” in total costs to shutter the stores. That includes $ 81 million in markdowns, $ 9 million in severance costs, $ 335 million in lease termination costs, $ 12 million in other charges and $ 6 million in depreciation in the third and fourth quarters.
Since the bankruptcy filing, Sears has tagged an additional 40 doors for closure.
The retailer, which operates under the Sears and Kmart nameplates, is trying to find a buyer for the company as a going concern. So far its chairman Edward S. Lampert, through his hedge fund ESL Investments, has offered a nonbinding bid of $ 4.6 billion for the assets. If accepted, that offer would in effect constitute Sears’s exit plan from bankruptcy. It is not clear any other party will submit a going-concern offer for the company. Liquidators are expected to submit offers, but those are geared toward winding the business down.

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Eddie Lampert offers $4.6 billion to buy Sears out of bankruptcy

Sears Holdings Chairman Eddie Lampert’s ESL Partners LP has submitted a $ 4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday. Sears, which had filed for bankruptcy protection on Oct. 15, faces a Dec. 15 deadline to find a buyer to keep it in business, according to court papers.
Business | New York Post


The last-ditch effort to revive Sears

Memo to Sears: It’s time to throw in the towel. A group of Sears creditors is urging the 125-year-old bankrupt retailer to forget about saving a few hundred of its stores — and instead shutter the chain for good. It’s “nothing more than wishful thinking” to keep Sears alive, the creditors said in a late-Friday…
Business | New York Post


Eddie Lampert’s hedge fund claims no ‘windfall’ from Sears demise

Think billionaire Eddie Lampert made a bundle off Sears’ demise? “Nothing could be further from reality.” That’s according to testily written court papers filed on Friday by Lampert’s hedge fund ESL Investments, which fired back at accusations that its deals to siphon off Sears assets over the past decade — from department stores to the…
Business | New York Post


Sears to shut 40 more stores early next year

The new store closures are in addition to the 142 stores Sears is already expected to close toward the end of 2018.
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Eddie Lampert destroyed Sears — and his reputation as a financial genius

It’s been a long, strange trip to bankruptcy court for Sears — and you can thank a brilliant, reclusive and woefully misguided hedge-fund manager for the ride. The 125-year-old retailer — for decades one of the nation’s iconic corporations, selling everything from TVs to dresses to riding mowers — filed for bankruptcy early Monday, as…
Business | New York Post