Sears closing 80 stores, including two in Maryland, amid bankruptcy deadline

Sears facing liquidation says it will close 80 more stores

Sears facing liquidation says it will close 80 more stores

The announcement came on the same day that Sears faced a deadline to find a seller for the company as part of its bankruptcy.

According to a statement and list released by Sears Holdings, two of their OR stores will be among the number of locations shuttered by late March 2019 - the Medford Sears location and a Kmart store in Corvallis.

Wellsville's Kmart location is among 80 properties owned by Sears that will be closing in March 2019, the company said Friday.

The department store operator told employees Thursday that it plans to shut another round of Kmart and Sears stores next year, CNBC reported.

Earlier this year, Sears closed a Kmart at Devils Lake, following the closure of another store in Thief River Falls, Minn., in November 2017. Now, 40 additional stores will be shut down.

Winter weather advisory for Cascades through Thursday
The winter storm came ashore Christmas Eve and brought more than a foot of snow to the Sierra Nevada mountains in California. On the low end, the weather service stated Cass, Crow Wing and Aitkin counties could receive 7-8 inches of snow.

Liquidation sales are scheduled to begin in two weeks, the company said.

Sears, which employs about 68,000 workers, filed for Chapter 11 in October and wants to sell 500 of its remaining stores.

Robin Lewis, a New York-based retail consultant, questioned whether Lampert is honestly trying to save the business and bring it out of business.

So far a hedge fund controlled by Eddie Lampert, Sears' former CEO and now largest creditor, is the only entity to publicly disclose a plan to bid. If he doesn't and Sears receives no other bids, the company could extend the deadline or liquidate its assets.

But no official bid appeared to have emerged as of 4 p.m. Friday.

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