Garden City Sears To Close As Company Files For Bankruptcy

The Garden City Sears store will be closing this year as part of the retailer's efforts to restructure, pay off its debts and save the company.

Sears Holdings, the parent company of both Sears and K-Mart, announced on Monday that it was filing for Chapter 11 bankruptcy and closing 142 Sears and K-Mart across the country. The company plans to close the stores by the end of the year.

The Garden City store, located at 1111 Franklin Ave., is the only Long Island location announced in this latest round of closings. It has been open since 1996, according to the company's website, and has about 400,000 customers a year.

"Over the last several years, we have worked hard to transform our business and unlock the value of our assets," said Edward S. Lampert, chairman of Sears Holdings, in a press release. "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."

There's no word yet on the official closing date of the store, or how many employees are going to be affected by the closure.

Photo courtesy Google Maps