Monday, 18 November, 2019


Rapid City Kmart to close

Rapid City Kmart to close Rapid City Kmart to close
Conrad Doyle | 29 December, 2018, 16:36

Sears is closing 80 more stores as it teeters on the brink of liquidation.

Sears announced that it expects to begin liquidation sales at the 80 stores in two weeks.

As part of its bankruptcy deal, the once iconic retail chain said it would close more than 170 of its 700 stores by the end of the year.

Employees at the Kmart in Apple Valley said Friday they could not comment on the closure and referred questions to the corporate office.

The list was announced Friday afternoon as the deadline for bids to keep the company out of Chapter 11 bankruptcy drew near at 4 p.m.

The only public offer comes from the hedge fund controlled by Sears chairman Eddie Lampert, though it's not yet an official bid.

A local store is among dozens that will be closing in a few months.

The once-dominant retailer filed for bankruptcy in October, and Lampert was seeking nearly $1 billion to support his rescue effort. "Customers can use the store locator function on our web sites to find the location of their nearest Kmart and Sears stores".

So far US Bankruptcy Court Judge Robert Drain, who is hearing the case, has allowed Sears to proceed with plans to stay in business. Rushmore Mall lost Sears as an anchor store in April. That's in addition to the closure of 46 unprofitable stores that had already been announced on October 15.

Lampert had pledged to restore Sears to its glory days, when it owned the Sears Tower in Chicago, then the world's tallest building, and companies that included a radio station and Allstate insurance.

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