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Additionally, the Kmart store located at 201 Ninth St S E in Rochester has also been identified as a store to close in 2019.

Sears Holdings says it is closing 80 stores around the country to "accelerate its strategic transformation and facilitate its financial restructuring".

After filing for bankruptcy on October 15, Sears executives have been scrambling to come up with cash to satisfy the bankruptcy court by a 4 p.m. December 28 deadline. It wants someone to buy about 500 of its stores and the Kenmore appliance brand to keep Sears and Kmart open for business.

This story will be updated. The company's chairman and biggest shareholder, Lampert loaned out his own money and put together deals to keep the company afloat and to turn whatever profit he could for ESL hedge fund. The hedge-fund investor pushed Kmart, which he'd bought out of bankruptcy two years earlier, to acquire Sears for $11 billion and then merged the two. The closures will affect both Sears and Kmart stores.

More than 170 of the current 700 remaining stores will be closed if the chain can not pay its debts.

Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million.

Sears stores in Novi and Muskegon will close in MI.

The Sears Auto Center will close in January.

Earlier on Friday, Sears announced it was closing 80 more stores.

Sears announced that it expects to begin liquidation sales at the 80 stores in two weeks.

The 130-year old retailer set a deadline of Friday for bids for its remaining stores to avert closing down completely.


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