CHICAGO-Officials with Sears Holdings announced on Tuesday that it will close its flagship store at 2 N. State St. in the Loop in April.
Sears will launch a liquidate sale at the store that employs approximately 160 mostly hourly workers beginning on Jan. 26, according to the Chicago Tribune.
"The store has lost millions of dollars since opening and we can no longer continue to support the store's operating losses," a Sears spokesman states.
"We don't make decisions to close stores lightly, and we know just how hard these decisions are on our loyal associates," Edward Lampert, Sears chairman and CEO, states in a letter posted on Sears Holdings' website. "But we've also carefully studied where other retailers went wrong and how they failed to adapt to changes." See story in the Chicago Tribune.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
