Sears to Shut Its Very Last Store in Illinois

In a bittersweet move, department store chain Sears is closing the doors on its last store, located in the retailer’s home state of Illinois.

The shop is located in Simon Property Group’s Woodfield Mall and is scheduled to close on November 14th, according to a confirmation by the company to CNBC.

A Sears spokesman’s parent company, Transformoco, has said that the company will look fo ways to revive the space with another tenant, as it also manages real estate.

“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.

Sears Holdings had filed for Chapter 11 bankruptcy protection in October of 2018.

Transformco had acquired Sears out of bankruptcy and since closed dozens of stores as well as Kmart locations across the U.S. Sears also owned Kmart.

Kmart’s last location in Manhattan had recently shuttered its doors and will be replaced by a Wegmans grocery store.

Transformco has declined to reveal how many Sears and Kmart stores are still open.

Transformco’s real estate division president Scott Carr, has said that the company plants to maximize the value of the Woodfield Mall property through a redevelopment.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.