Liquidation sales underway with prices cut by 70% as final Sears in US state to disappear from map for good
As it is ready to close, the last Sears store in a US state is having a sale at a discount.
Soon, the Westfield Southcenter Mall location in Seattle will no longer exist.
The Seattle Times reports that Chiefs have verified the store would go down for good on November 15.
Signs warning that everything must go have already been placed in front of shoppers.
According to the radio station KIRO-FM, bosses are scrambling to get rid of the remains of the inventory because item prices have been slashed by 70%.
It is the lone surviving Sears store in Washington and has been a fixture in the mall since 1994.
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Over 120 years after its founding, there are now just nine Sears stores left in the nation.
Although Sears has been a part of the American retail landscape since 1893, the number of its stores has significantly decreased.
Sears used to be the biggest retailer in the United States less than 20 years ago.
Together, Sears and Kmart had 3,500 locations.
Of those outlets, almost 2,000 were physical storefronts.
However, Sears has been having financial difficulties.
Many US retailers and grocery stores will close around Thanksgiving
Chiefs have dramatically reduced the number of stores, and bosses filed for bankruptcy in 2018.
There were 700 outlets at the time of the bankruptcy filing.
However, when the business emerged from bankruptcy in August 2023, there were only 22.
Additionally, the overall number of retailers has been steadily declining.
Last Remaining Sears Locations
When Sears came out of bankruptcy, it had relatively few remaining stores. There are just nine left in the US and one in Puerto Rico as of 2024. A comprehensive list put together by The U.S. Sun is provided below:
California
- Concord
- Whittier
- Burbank
The state of Florida
- Miami
- Orlando
The state of Massachusetts
- Braintree
Washington
- Tukwila
The state of Texas
- El Paso
Puerto Rico
- Hato Rey
The chain store in Stockton, California, shut down this summer.
In the lead-up to shutdown, there were sales with items up to 75% off.
According to the Stockton Record, employers reduced the cost of gym equipment by up to 40% and clothing by up to 50%.
After 40 years of operation, the chain’s final site in the New York area closed earlier this year.
Company executives closed the Yakima County, Washington, site in September.
Customers were informed in advance of the shutdown that everything had to depart.
How does bankruptcy work?
A certain legal procedure called bankruptcy assists businesses in getting rid of debt they are unable to pay back.
Businesses can start over and obtain new credit through the process.
According to Investopedia, bankruptcies, which are overseen by federal courts, make it easier for a business to sell off its assets in order to satisfy its creditors.
Restructuring a firm with the intention of staying open, even if it means selling off the majority of the company’s assets, is accomplished through Chapter 11, a regular procedure for businesses.
In contrast, Chapter 7 puts a business out of business by selling all of its assets.
In contrast, Chapter 15 permits cooperation between U.S. and foreign courts to handle bankruptcy cases involving “parties of interest involving more than one country,” according to the U.S. Courts.
There are other chains that have experienced financial difficulties besides Sears.
After executives declared bankruptcy in September, Big Lots locations all around the nation are still closing.
Chiefs disclosed that approximately 340 locations would close at the time of the initial filing.
Waves of closures have occurred, and the business just announced that 19 more would close.
Read More on The US Sun
According to a recent article in the U.S. Sun, a Kohl’s shop located in Herndon, Virginia, about 20 miles from Washington, DC, may close permanently in the coming year.
Additionally, residents in Ohio are horrified to learn that a Family Dollar store may closing before Thanksgiving.
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