Sears closing 4 Chicago area stores
BY SANDRA GUY Business Reporterfirstname.lastname@example.org February 23, 2012 6:10PM
Updated: March 25, 2012 8:18AM
Sears Holdings Corp. announced Thursday 24 more store closings — six in Illinois, including four in the Chicago area — as the retailer struggles to improve its finances.
The closings include Kmart stores in Oak Lawn (11000 S. Cicero) and Zion (3355 Sheridan Road), a Great Indoors store in Lombard and a Sears Grand store in McHenry, the Hoffman Estates retailer disclosed in a list posted on its website.
The latest closings mark the end of Sears’ Great Indoors home decor chain, which sells mostly high-end home products from bed linens to cabinets and countertops.
Thursday’s closings were part of Sears’ plan announced in December to close 100 to 120 Sears and Kmart stores after poor sales during the holidays. It previously named 79 of the stores it would close, none in Illinois. In December, Sears won a hard-fought tax break to keep the company in the state.
Morningstar analyst Paul Swisand said Thursday he believes Sears could close as many as 400 to 500 stores in the next five years if it aims to turn around its long-ailing sales performance.
Sears operates 900 Sears and 1,300 full-line Kmart stores nationwide.