The Sears store in the Gadsden Mall is on the chopping block.
The news went hand in hand with the announcement Monday that Sears would be filing for Chapter 11 bankruptcy protection as the company reorganizes, and attempts to figure out a way to survive in today’s marketplace.
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A total of 142 Sears or Kmart stores considered unprofitable will be closing sometime near the end of the year. As the New Year begins the lone wolf of Sears stores in Alabama will be the Hoover location.
Sears currently has an estimated five-and-a-half billion dollar debt and has dropped from a total of some 2,000 Sears and Kmart stores five years ago to just over 800 at this point.
