MINNEAPOLIS (WCCO) — Sears has announced another round of store closures that will happen at the end of the first quarter next year. And among them is their Mall of America location.
In all, 80 Sears or Kmart stores have been earmarked to close in late March. The only Minnesota Sears store listed among them was the one located at the Bloomington mall.
Sears has been one of the four anchors at the Mall of America since it opened in August 1992.
“Liquidation sales at these stores are expected to begin in two weeks. The accompanying Sears Auto Center at these Sears stores will also be closing,” Sears Holdings reported Friday. “This is in addition to the previously announced closure of 40 unprofitable stores expected to be completed in February 2019.”
Additionally, the Kmart store located at 201 Ninth St S E in Rochester has also been identified as a store to close in 2019.
The news comes as a crucial deadline for the bankrupt retailer Sears looms on whether the company survives or will be liquidated. Friday marks the last chance for potential buyers to come forward with bids.
“We are aware of the news today stating that the Sears store at Mall of America will be closing. While change can be difficult, we are very excited for the future of our destination, as well as this specific opportunity at this world-class property,” Mall of America said in a statement. “Mall of America has been provided with a great chance to transform this premier space in to something that will exceed the expectations of our millions of annual guests.”
Sears has told a bankruptcy court it has received several bids. The only public offer comes from the hedge fund controlled by Sears chairman Eddie Lampert, though it’s not yet an official bid.