Sears at Towne East one of 80 stores closing nationwide

Sears facing liquidation says it will close 80 more stores

Sears facing liquidation says it will close 80 more stores

The move comes as a 3 p.m. Friday deadline looms for potential buyers to bid for Sears' assets including 500 of its stores and the Kenmore appliance brand.

Bankrupt U.S. retailer Sears Holdings closing 80 more stores as it teeters on the brink of liquidation. In November, it announced the closure of 40 additional stores. Liquidation sales at the stores should begin in two weeks, Sears said.

The 80 stores - comprised of 43 Sears and 37 Kmarts - are due to close by March.

On the new list of stores to close are the Sears location at Westshore Plaza and the store at 9409 USA 19 in Port Richey, as well as the Kmart store on Highway 301 in Ellenton. "Customers can use the store locator function on our web sites to find the location of their nearest Kmart and Sears stores".

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The Tri-Cities Sears store will close as part of the company's bankruptcy. A Sears store at the Mall of America in Bloomington, Minn., is also slated for closure. At the time of the filing, Sears had just under 700 stores and planned to shut down 142 unprofitable stores.

Sears chairman Eddie Lampert proposed to buy out the company as a whole through his hedge fund, ESL Investments, for $4.6 billion. Sears Holding is the parent company of Sears and Kmart.

Lampert, the company's largest creditor who also served as CEO until its bankruptcy, has until Friday to make his bid official.

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