Sears will close its last Illinois-based department store Nov. 14, when the location in Simon Property Group’s Woodfield Mall shuts its doors for the final time, bringing an end to the retailer’s time in its home state.
Transfomco, the parent company for Sears and real estate manager for the Woodfield Mall location, told CNBC in a statement that it will try to keep the space vibrant with 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 the statement.
Sears Holdings, which also owned Kmart, filed for Chapter 11 bankruptcy protection in October 2018 before Transformco acquired Sears out of bankruptcy and subsequently closed a large swath of Sears and Kmart locations across the country, including Kmart’s last location in Manhattan, which will soon give way to a Wegmans grocery store.
The Transformco spokesperson wouldn’t say how many Sears or Kmart stores are still open, but the company’s website lists 35 Sears stores, including the Woodfield Mall location, and 22 Kmart outposts.
Sears, which was founded in Chicago in the 1890s, was once the largest retailer in the U.S. with thousands of stores dotted across the country. It had about 700 stores when it filed for bankruptcy three years ago.
Related: Amazon’s Department Store Plans May Be Death Knell For Walmart’s Retail Lead
While Sears retail locations are closing for good, Amazon is moving from a strictly eCommerce strategy to one rooted in brick-and-mortar locations too. The company hasn’t officially announced its plans to open department store-style retail locations, but The Wall Street Journal said last month to expect them in Ohio and California in the next several years, with the possibility of many more to follow.
The Amazon retail stores would be about 30,000 square feet — smaller than most department stores — and offer items from top consumer brands, WSJ reported.
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