Sears to Close Money-Losing Chicago Store Amid Sales Decline
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Sears Holdings Corp. plans to close its money-losing namesake store in downtown Chicago as it continues to shrink its network of outlets and divest businesses amid a decline in sales.
Sears will shutter the store at 2 N. State St. in Chicago’s Loop business district in April, Howard Riefs, a spokesman, said today in an e-mail. The store employs about 160 mainly part-time staff and those eligible will receive severance and be able to apply for positions in the company’s other stores in the Chicago area, he said.