After a 12 months of closures, layoffs and eventually submitting for chapter, Sears has listed the 505 retailers — along with 11 in Illinois — it hopes a model new proprietor will proceed working.
A chapter court docket docket doc filed Wednesday lists Illinois retailers the company is selling, along with locations in Bloomingdale, Chicago Ridge, Peoria, Schaumburg, West Dundee, Fairview Heights, North Riverside, Oak Brook and Rockford-Cherryvale. The itemizing moreover consists of Kmart retailers in Bridgeview and Des Plaines.
Nonetheless as a result of the retailer searches for a model new proprietor, additionally it is considering bids to liquidate.
Sears has a Dec. 15 deadline to hunt out an preliminary bidder on these retailers, with a Dec. 28 deadline for various patrons to submit bids and an public sale on Jan. 14.
The Hoffman Estates-based retailer, affected by years of falling product sales and accumulating debt, closed a whole lot of retailers sooner than submitting for chapter protections in mid-October.