The Columbia Sears is one of five stores that Sears Holdings announced will close as part of a bankruptcy filing.
COLUMBIA, MD — Sears announced it filed for Chapter 11 bankruptcy early Monday. The retailer, which has been forced to close hundreds of stores in recent months, said it will close another 142 unprofitable locations near the end of the year, including one in Columbia.
Sears Holdings, the parent company of Sears and Kmart, made the bankruptcy filing in federal court in New York the same day a $134 million debt payment was due. CEO Edward S. Lampert will step down effective immediately, the company announced, but will remain chairman.
The company is seeking a buyer for the majority of its remaining stores but said locations will remain open for the holiday shopping season.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
I was was there, at that location about a month ago. The mall was crowded, but the sears store was not. Nothing to pick from in electronics, clothing or shoes. Just like the Salisbury store, just appliances and furniture.
ReplyDeleteI went there a few weeks ago looking for a chest freezer and found one, but since it was a floor model, they told me they could not sell it to me and would need to order one and have it delivered. Told them to forget it, and went to Lowes and purchased one there. The sales people at sears acted like they could care less about a sale!
My Dryer also died recently, so I went to shore appliances in the twilley center and found what I was looking for at a reasonable price. They also helped me load it in my truck. I was in and out of the store in less than ten minutes! That is now my new store to go to for appliances.
The Salisbury store is a tomb.
ReplyDeleteEddie Lampert is making a fortune (over a billion dollars by the time it's over.) by bankrupting Sears and K-mart with his selling brand to investment trusts he owns part of, and about 50 percent of the properties to his own REIT. He destroyed K-mart and Sears for his own profit.
ReplyDeleteHe refuses to put in the 300 million he promised at bankruptcy court, just weeks ago, unless he is the no. 1 person to be paid back in full, when it goes under.