Sears closes its last store in Illinois, home state

A shopping cart is sitting in the parking lot of a Sears store on March 22, 2017 in Schaumburg, Illinois. Sears Holdings, the parent company of Kmart and Sears, Roebuck, & Co., said there was “great doubt” about the company’s financial viability.

Scott Olson | Getty Images News | Getty Images

The last Sears department store located in the dealer’s state of Illinois is getting ready to close its doors for good.

The store, located in Simon Property GroupWoodfield Mall, due to close on November 14, the company confirmed to CNBC.

A spokesman for the department store chain’s parent company, Transformco, said it would look for ways to revive the space with another tenant as it also manages the property.

“This is part of the company’s strategy to unlock the value of the property and strive for the highest and best use for the benefit of the local community,” Transformco said in a statement.

Sears Holdings, which also owned Kmart, applied for Chapter 11 bankruptcy protection in October 2018. Transformco later acquired Sears went bankrupt and has since closed dozens of the remaining Sears and Kmart sites in the United States.

Kmart’s last place in Manhattan recently closed. It will be replaced by a Wegmans grocery store.

A Transformco spokesman declined to confirm how many Sears and Kmart stores are still open.

The company’s websites list 35 Sears locations, including the one at Woodfield Mall and 22 Kmart stores.

Sears was founded in Chicago in the 1890s. Its business flourished for much of the 20th century, selling everything from homes to clothing. Sears was once the largest retailer in the country with thousands of stores.

The company had about 700 stores, many of them barren goods, when it filed for bankruptcy in 2018.

Scott Carr, president of Transformco’s real estate division, said in a statement that the company plans to maximize the value of the Woodfield Mall property through a redevelopment.

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