- Sears is closing at least 24 stores, including 22 Sears stores and two Kmart stores, Business Insider has learned.
- The closing stores span 17 states including Arizona, California, Florida, Missouri, Ohio, and Minnesota.
- Most stores will begin liquidation sales on April 27, employees told Business Insider.
- Sears has cut its store count in half in the last five years.
Sears is quietly closing at least two dozen stores in 17 states, in addition to the 166 stores that the company previously said it would close this year.
Most of the stores on the new list will close by mid July, with liquidation sales beginning April 27.
Sears has not publicly announced many of the store closings slated for July. Business Insider confirmed the list of closing stores based on information from multiple Sears employees.
Sears spokesman Howard Riefs told Business Insider earlier this week that some employees at closing stores would be eligible for severance.
"Those associates that are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores."
Sears has cut its store count in half within the last five years. The company had 1,002 stores as of early February, down from 1,980 stores in 2013. It's closing another 103 stores this month, in addition to the 24 stores that will close by July.
Here's the list of closing stores:
- Park Mall, 5950 E Broadway Blvd. Tucson, Arizona
- Sunrise Mall, 5900 Sunrise Blvd., Citrus Heights, California
- Westfield Galleria at Roseville, 1191 Galleria Blvd., Roseville, California
- Solano Town Center, 1420 Travis Blvd., Fairfield, California
- Parkway Plaza, 575 Fletcher Parkway, El Cajon, California
- University Mall, 7171 N Davis Hwy, Pensacola, Florida
- Countryside Mall, 27001 Us 19 N, Clearwater, Florida
- Oaks Mall, 6201 W Newberry Rd, Gainesville, Florida
- Broward Mall, 8000 W Broward Blvd, Plantation, Florida
- Marketplace at Six Corners, 4730 W Irving Park Road, Chicago, Illinois
- Lindale Mall, 4600 First Ave. NE, Cedar Rapids, Iowa
- Columbia Mall, 2201 W Worley St, Columbia, Missouri
- Maplewood Mall, 3001 White Bear AVE N, Maplewood, Minnesota
- Meadowood Mall, 5400 Meadowood Mall Circle, Reno, Nevada
- Greece Ridge Center, 317 Greece Ridge Center Dr, Rochester, New York
- Independence Mall, 3500 Oleander Drive, Wilmington, North Carolina
- Asheville Mall, 1 S Tunnel Road, Asheville, North Carolina
- Southern Park Mall, 7401 Market St., Youngstown, Ohio
- Wyoming Valley Mall, 88 Wyoming Valley Mall, Wilkes-Barre, Pennsylvania
- Park North Shopping Center, 622 NW Loop 410, San Antonio, Texas
- Warrenton Village Center, 141 W Lee Hwy, Warrenton, Virginia
- Overlake Fashion Plaza, 2200 148th Ave NE, Redmond, Washington
- 1602 W Brandon Blvd., Brandon, Florida
- 180 Main St., Saugus, Massachusetts
In addition to closing stores, the company is selling a handful of other locations online through a partnership with Cushman & Wakefield, a real-estate services company.
Sears is selling these stores in an online auction. (Real Insight Marketplace)
The properties are advertised as sale-and-leaseback deals, meaning Sears would make rent payments to the winning bidders to remain in the space.
Some properties with flexible lease agreements could allow for the space to be redeveloped into self-storage, hotels, or residential units, according to The Wall Street Journal. Depending on the terms of the lease, it's possible that the Sears stores could shut down entirely or shrink to take up less space on the property, as the company has done with several other locations.
Buyers have until May 1 to signal interest in the properties for sale. Later that month, interested buyers will be able to bid on them in real time in an online auction, according to Real Insight Marketplace.
The following Sears stores are for sale:
- Castleton Square Mall, Indianapolis, Indiana
- Southlake Mall, Merrillville, Indiana
- University Park Mall, Mishawaka, Indiana
- Twelve Oaks Mall, Novi, Michigan
- 330 Siemers Dr., Cape Girardeau, Missouri
- South County Center, Mehlville, Missouri
- Mid Rivers Mall, Cottleville, Missouri
- Battlefield Mall, Springfield, Missouri
- Great Northern Mall, North Olmsted, Ohio
- Richland Mall, Mansfield, Ohio
- SouthPark Mall, Strongsville, Ohio
- Parkdale Mall, Beaumont, Texas
- Deerbrook Mall, Humble, Texas
- San Jacinto Mall, Baytown, Texas
- Rolling Oaks Mall, San Antonio, Texas
- Plaza Paseo Mall, Pasadena, Texas