Grand Forks Kmart to close in March

Grand Forks Kmart to close in March

Grand Forks Kmart to close in March

The company set Friday as a deadline for bids on its remaining stores in an attempt to avoid the closings. Sears Holding is the parent company of Sears and Kmart.

Sears told the bankruptcy court it has interest from multiple parties.

Sears chairman Eddie Lampert proposed to buy out the company as a whole through his hedge fund, ESL Investments, for $4.6 billion.

The closures announced Friday are in addition to more than 180 that were previously announced by Sears. At that time, the company said it would close 142 unprofitable stores. Instead, he wants to forgive about $1.8 billion of the debt he holds from Sears.

However, Lampert hasn't officially submitted a bid.

Suzuki Jimny Survive off-road concept revealed
It also features a gold paintjob, wood sides, a new grille, white roof, light bar and white wheels with chrome hubcaps. The Suzuki Jimny Sierra Pickup Style concept will debut at the 2019 Tokyo Auto Salon in the middle of January.

In a court filing, the creditors' attorney called Sears' plan to become profitable "nothing more than wishful thinking " and "an unjustified and foolhardy gamble with other people's money". The stores are expected to close by March; with liquidation sales starting in January.

Sears declined to comment. It also received a last-minute bid from its chairman to keep much of the rest of the business alive. If he doesn't and Sears receives no other bids, the company could extend the deadline or liquidate its assets.

Sears had limited success selling its assets. Finding lenders could prove hard, particularly if holiday sales left Sears in a deeper hole than it had hoped.

If it missed its targets, its chances of survival will be significantly reduced.

At the end of November, Sears offered grim projections for holiday sales, expecting to burn through cash most weeks.

Recommended News

  • Sarri surprised by Hazard’s contract situation

    Sarri surprised by Hazard’s contract situation

    David Luiz could be on his way out of the club on a free transfer in the summer, according to the Times (h/t Express ). Because, as you know, over 30 years the club offers only one year to renew. "The problem is only this".
    NY  reports sharp rise in flu cases

    NY reports sharp rise in flu cases

    Hand-washing, staying away from sick people and avoiding touching your eyes, nose and mouth can help prevent the flu . According to the CDC, the flu virus was responsible for almost 79,000 deaths during the 2017-2018 flu season.
    Boult takes devastating 6-4 in just 15 balls against Sri Lanka

    Boult takes devastating 6-4 in just 15 balls against Sri Lanka

    It gave New Zealand a 74-run first-innings lead, which Latham and Raval extended to 195 with a century opening stand. He also managed only seven wickets for 262 runs in three Tests against Pakistan in the United Arab Emirates.
  • Google's Messages app now getting spam protection

    Google's Messages app now getting spam protection

    Users in Australia started to notice the feature yesterday, but Google is enabling the feature is slowly server-side. Previously, it was only possible to manually report and block spammers after you receive a message.
    Winter storm to continue through the night

    Winter storm to continue through the night

    The Minnesota Department of Transportation said it might be better to wait for conditions to improve if travel isn't necessary. Drivers should expect the roads to be impacted with hard driving conditions and road closures around the state.
    Meghan Markle Hinted At Her Due Date On Christmas Day

    Meghan Markle Hinted At Her Due Date On Christmas Day

    Back in May 2017, Markle said that she doesn't wear Victoria Beckham's clothing because she doesn't like the way it looks on her. The Duchess of Sussex spoke to a fan prior to Christmas Day church services in Sandringham and said she's nearing her due date.
  • Alberta teacher Sarah McIver returned to Canada after arrest in China

    Alberta teacher Sarah McIver returned to Canada after arrest in China

    China arrested Kovrig and Spavor separately after Canadian authorities detained a Chinese technology executive in Vancouver. McIver's detention followed the arrests of two other Canadians on allegations they were harming China's national security.
    United States  govt shutdown to extend into next week after Senate adjourns

    United States govt shutdown to extend into next week after Senate adjourns

    In one tweet Friday, Trump warned: "word is that a new Caravan is forming in Honduras and they are doing nothing about it". According to Trump the "caravans" amount to organized attempts at invading the United States.
    Projects worth Rs 26,000 crore underway in HP: PM Narendra Modi

    Projects worth Rs 26,000 crore underway in HP: PM Narendra Modi

    The Prime Minister urged the people to exercise caution while going back from the rally. "I do not want an accident to take place. He described Himachal Pradesh as the land of fearless soldiers who were ever ready to make the supreme sacrifice at the border.
  • 7PM: Countdown to Kickoff - Notre Dame vs. Clemson

    7PM: Countdown to Kickoff - Notre Dame vs. Clemson

    Lawrence is a significant loss to a Clemson defense that will attempt to slow down an efficient Fighting Irish offense. On Thursday night, Clemson announced Lawrence is officially suspended for the game after failing the drug test.
    Baahubali director SS Rajamouli's son Karthikeya to marry Pooja Prasad in Jaipur

    Baahubali director SS Rajamouli's son Karthikeya to marry Pooja Prasad in Jaipur

    On the workside, Rajamouli is busy in his upcoming movie RRR in which Jr NTR and Ram Charan are playing the lead roles. Well, she is back and the actress's pictures from the Jaipur airport are out with a mixed opinion on her looks.
    Sudan police fire tear gas at protesters

    Sudan police fire tear gas at protesters

    The protests began in the northeastern town of Atbara on 19 December in response to economic hardships and rising living costs. Aristide Nononsi, who reports to the council on human rights in Sudan, said governments had a duty to tolerate dissent.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.