Two local Sears stores to close

(MGN/file)
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(KWTX) Sears stores and auto centers in the Richland Mall in Waco and in the Killeen Mall in Killeen will be closed in late March Sears Holdings announced Friday.

Store employees were notified of the closings on Thursday, the company said.

The company plans to shutter 80 Sears and Kmart stores beginning in late March and liquidation sales could begin in two weeks, the company said.

The company earlier announced the closing of 40 unprofitable stores by February.

Before Friday's announcement, a total of 182 stores were targeted for closure.

Hometown Sears stores in Mexia and Temple are not owned by Sears Holdings, aren't part of the bankruptcy and are not on the closure list.

The Sears Holdings closings are part of the company’s “processes to accelerate its strategic transformation and facilitate its financial restructuring.”

The company filed for bankruptcy in October.

At that time, it operated about 700 Sears and Kmart stores.

The deadline to buy Sears Holdings out of Chapter 11 Bankruptcy is at 3 p.m. Friday.

Sears Chairman Edward Lampert earlier advanced a $4.6 billion proposal to buy the company out of bankruptcy through his hedge fund, but he hasn’t officially submitted a bid.



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