Sears is closing more stores, according to reports, although the fate of the store in Concord’s Steeplegate Mall is still uncertain.
According to the Reuters news agency, Sears said that starting in December it will close 96 stores, leaving 182 locations.
On Thursday, according to Reuters, the company said it had received a $250 million lifeline from lenders that include billionaire owner Eddie Lampert through his hedge fund ESL Investments Inc.
Lampert combined Sears and Kmart 15 years ago, but the resulting company lost money almost every year in the face of competition from the likes of e-commerce giant Amazon.
Sears recently closed on a deal to buy affiliated company Sears Hometown, which sells lawn furniture and appliances. In addition to Concord, it has New Hampshire stores in Swanzey and Newport.
Sears also owns Kmart discount stores, 45 of which will shutter during the December closings, according to Reuters.
Monitor staff
https://www.concordmonitor.com/sears-concord-nh-30101122