Sears To Close Mall Of America Store In March

Sears has 24 hours to be saved

Local Kmart among 80 Sears and Kmart stores to close

Bankrupt department store chain Sears is nearing the end of a self-imposed deadline for its survival, as today is the last opportunity for potential buyers to bid on its assets.

The Delmar Plaza store in Orange Grove was on a list of 80 stores Sears Holdings released Friday morning, saying those retailers will close in late March.

- Sears announced it would close an additional 80 stores, including three in the Bay Area, as it teeters on the brink of liquidation.

Sears Chairman Eddie Lampert made a $4.6 billion offer to buy the US retailer earlier this month, which called for about 500 Sears stores to remain open. The accompanying Sears Auto Centers will also be shut.

Earlier this year, Sears closed 182 stores across the country.

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Sears filed for bankruptcy on October 15 with a little under 700 stores.

Sears is down 1.1% in after-hours trading.

Sears will also close its store in Oconomowoc. The 125-year-old company employs more than 68,000 people and is betting on a $4.6 billion proposal from Eddie Lampert, Sears chairman, to keep it alive, CNBC reported.

The deadline to submit bids for Sears is December 28.

It's unclear how many are employed by Sears in the Tri-Cities.

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Lampert poured millions of dollars through ESL into Sears, which struggled for years with losses and debt.

Columbia Center's movie theater also recently closed but is being replaced by a Dick's Sporting Goods, now under construction.

However, sources told CNBC that as of Thursday afternoon Lampert had not submitted his bid or rounded up financing.

Sears filed for Chapter 11 bankruptcy protection.

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