Sears to close Coral Ridge Mall store - KWWL - Eastern Iowa Breaking News, Weather, Closings

Sears to close Coral Ridge Mall store

HOFFMAN ESTATES, Ill. (KWWL) -

Sears says it will close 11 stores in nine states including the location at Coral Ridge Mall.

The retailer has made a deal to sell the stores to General Growth Properties, the owner of the malls where those Sears stores are located. The $270 million deal impacts two Iowa stores in Coralville and Council Bluffs. Other stores include those in Honolulu, HI; The Woodlands, TX; Bellingham, WA; Ocoee, FL; Rochester, MN; Champaign, IL; Murray, UT; Oklahoma City, OK; and Provo, UT. The sale is expected to close within the next two months.

The stores will continue to operate as Sears locations into 2013, with final closing dates to be announced later this year.

Sears posted a fourth-quarter loss after its revenue fell 4%. The company blames falling demand in appliances and consumer electronics.

 

Powered by Frankly