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Sears Closes State Street Store

Wed, 22 Jan 2014 05:23:46 CST
By: AP

Sears' presence on Chicago's State Street is about to end.   The retailer says it's closing it's flagship store in April. In an email, a Sears spokesman says the Hoffman Estates-based company can no longer support the store's operating losses. Sears opened the store with great fanfare in 2001, receiving $13.5 million in tax increment-financing assistance from the city. The spokesman says the store's operational performance "has been poor through much of its existence." Sears officials say about 160 employees will lose their jobs. They will be able to apply for positions at other Sears or K-Mart stores. The retailer will begin liquidating the store's merchandise on this weekend.

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