- Associated Press - Tuesday, January 21, 2014

CHICAGO (AP) - Sears‘ presence on Chicago’s State Street is about to end.

The retailer announced Tuesday an April closing for its flagship store.

In an email, a Sears Holding Corp. spokesman said the Hoffman Estates-based company can no longer support the store’s operating losses. Sears opened the store with great fanfare in 2001, receiving $13.5 million in tax increment-financing assistance from the city.

The spokesman says the store’s operational performance “has been poor through much of its existence.”

Sears officials say about 160 employees will lose their jobs. They will be able to apply for positions at other Sears or K-Mart stores. The retailer will begin liquidating the store’s merchandise on Jan. 26

The Sears spokesman said the closure is part of efforts to reduce expenses and transform the retailer’s business model.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide