Rapid City Kmart to close their doors in 2019


Sears continues its struggle to survive.

It is possible that Lampert's bid for Sears will be rejected or otherwise fall through, the sources cautioned, asking not to be identified because the matter is confidential. The company's future remains very much in doubt.

The company says these closures are in addition to the shutdown of 40 unprofitable stores expected to be completed in February.

In the announcement, Sears Holdings said it notified employees at the affected stores on Thursday.

He is offering $4.6 billion for those operating assets.

The bid includes $1.3 billion in financing from three institutions, ESL said in a statement.

The Kmart in Rapid City failed to survive the latest round of Sears Holdings.

While Lampert has said he intends to make the bid, he has not formally filed one with the bankruptcy court.

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Some Sears creditors, including landlords and vendors, believe shutting down the company is the best way to retrieve the greatest portion of the money Sears owes them.

Sears had limited success selling its assets. Reuters and CNBC reported Lampert's bid earlier Friday evening.

Since filing for bankruptcy, the retailer has announced plans to close more than a third of its locations.

A USA bankruptcy court judge must approve any sale of Sears.

The Charlottesville Sears store is among those listed to close on MarketWatch. Going out of business sales will start within two weeks. Kmart and Sears announced its merger in 2004.

The retailer - once the country's largest - has not posted a profit since 2012.

It's not clear how many jobs will be lost when the Santa Maria Kmart store shuts down.