Sears will close 80 the shops additional, since it fluctuates on the verge of complete liquidation.
The famous retailer who was once a chain the shops largest department United Statesset Friday as the deadline for receiving offers to buy the remaining establishments in order to avoid complete closure.
The chain, which began as a mail order catalog in the 1880s, slowly sank down the bankruptcy path affected by the Great Recession and then overloaded with competitors, both physical and online.
80s the shops They will close in March, adding to the 182 establishments that are already scheduled for closure, including 142 by the end of 2018 and another 40 by February. The company declared bankruptcy in October, stating at the time that it would close more than 20 percent of its space and keep only its 500 most profitable establishments active.
Sears Holdings Corp., which also manages Kmart, joins the list of retail brands absorbed by risk funds that have collapsed under the weight of their debt.
With Eddie Lampert, head of the risk fund, at the helm, Sears won time by getting rid of some the shops and selling symbolic brands such as Craftsman.
Lampert, the president and principal shareholder of the company, lent his money and entered into agreements to keep the company afloat and receive any profit he could receive as a ESL risk fund. Lampert and ESL tried to buy the rest Sears up to four thousand 600 million dollars in cash and shares.
But until 4 o'clock in the afternoon Eastern time, apparently, no one made an official offer. Sears declined to comment.