Sears files for bankruptcy, will close 3 stores in Phoenix area, 142 across US
Oct 15, 2018, 10:55 AM | Updated: 2:06 pm
(AP Photo)
(AP Photo)
PHOENIX — The slide of former retail icon Sears continued Monday, filing for bankruptcy protection and announcing closure of 142 more stores, including three in metro Phoenix.
The chain said stores in Chandler, Mesa and Phoenix would shut down before the end of the year. Liquidation sales were set to being in November.
Earlier this year, Sears closed the store at Metrocenter Mall in Phoenix and Fiesta Mall in Mesa (the entire Mesa mall closed in January).
The sites going dark in the Valley are:
• Superstition Springs Center: 6515 E Southern Ave., Mesa.
• Desert Sky Mall: 7611 W Thomas Road, Phoenix.
• Chandler Fashion Center: 3177 Chandler Village Dr.
Other Arizona stores will close in Sierra Vista and Yuma.
CEO Edward Lampert said in a statement, “As we look toward the holiday season, Sears and Kmart stores remain open for business and our dedicated associates look forward to serving our members and customers.”
Lampert resigned but will remain chairman of the board.
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Electrolux hoped to continue selling its appliances at Sears.
Electrolux said it has actively planned for the bankruptcy and other contingencies at the same time that it seeks other outlets that can sell its goods.
The company gets about 10 percent of its revenue through sales of its products at Sears.
Sears was founded in Minneapolis in 1886 as a watch seller. The once-famous catalog debuted two years later.
The Associated Press contributed to this report.
