Sears Bankruptcy: 17 CA Stores Will Close, 142 Nationwide

CALIFORNIA — Sears, the struggling 125-year-old retailer, announced it has filed for Chapter 11 bankruptcy early Monday, the same day a $134 million debt payment was due from the Hoffman Estates-based chain. Sears Holdings, the parent company of Sears as well as Kmart, made the filing in federal court in New York, and the financially strapped business will be closing four stores in Illinois.

The retailer, which has been forced to close hundreds of stores in recent months, said it will close another 142 unprofitable locations near the end of the year. Those closings are in addition to 46 locations that were already set to close by the end of November.

Also see: 46 More Sears, Kmart Stores Are Closing — Here They Are

According to court filings by Sears, the retailer will be shuttering the following California stores:

1. Kmart: 912 County Line Road, Delano
2. Kmart: 215 W Hanford/Armona Road, Lemoore
3. Kmart: 1351 E Hatch Road, Modesto
4. Kmart: 375 E Alessandro Blvd., Riverside
5. Kmart: 2530 S Euclid Ave., Ontario
6. Kmart: 3968-A Missouri Flat Road, Placerville
7. Kmart: 3247 W Noble Ave., Visalia
8. Sears: 3001 Ming Ave., Bakersfield
9. Sears: 100 Los Cerritos Mall, Cerritos
   
10. Sears (Lands' End): 3333 Bristol St., Costa Mesa
11. Sears: 3751 S Dogwood Ave., El Centro
12. Sears: 5901 Florin Road, Florin
13. Sears: 1011 W Olive Ave., Merced
14. Sears: 100 Vintage Faire Mall, Modesto
15. Sears: 1401 N Montebello Blvd., Montebello
16. Sears (Lands' End): 1700 Stoneridge Drive, Pleasanton
17. Sears (Lands' End): 100 Santa Rosa Plaza, Santa Rosa

The company is seeking a buyer for the majority of its remaining stores but said locations will remain open for the holiday shopping season. CEO Edward S. Lampert will also step down effective immediately, the company announced, but will remain chairman.

Mohsin Meghji, managing partner of M-III Partners, has been named Sears Holdings' chief restructuring officer, and an independent restructuring committee has been formed.

"Over the last several years, we have worked hard to transform our business and unlock the value of our assets," said Lampert said in a statement issued early Monday. "While we have made progress, the plan has yet to deliver the results we have desired, and addressing the Company's immediate liquidity needs has impacted our efforts to become a profitable and more competitive retailer.

"As we look toward the holiday season, Sears and Kmart stores remain open for business and our dedicated associates look forward to serving our members and customers," Lampert added.

Sears, which last year sold off its famous Craftsman brand, has about 700 remaining stores and 68,000 employees — down from the 1,000 stores and 89,000 workers it had in early 2018, according to CNN.

Joe Vince and Shannon Antinori, Patch Staff, contributed to this report.

Photo by Scott Olson/Getty Images