Sears to close last store in its home state of Illinois
It's the end of an era for Sears in Illinois.
The retailer, founded in Chicago in the 1890s, is shuttering its store at the Woodfield Mall in nearby Schaumburg, CNBC confirmed Thursday. This is the last Sears still open in the company's home state. The store is set to close its doors on Nov. 14.
A spokesperson for Sears' parent company, Transformco, told CNBC they will still manage the space, and are in the process of finding a new tenant. "This is part of the company's strategy to unlock the value of the real estate and pursue the highest and best use for the benefit of the local community," Transformco said in a statement.
Transformco acquired Sears after it filed for Chapter 11 bankruptcy protection in October 2018. In August, there were still 34 stores in operation, down from around 700 when Sears filed for bankruptcy protection.
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