Sears is closing its stores in the Northwest Arkansas Mall and Fort Smith's Central Mall. The company announced in July it would be closing 43 stores; in August, another 28.
"We've had no indication from Sears that it plans to close the Spotsylvania location", said Cafaro spokesman Joe Bell. A Madison Heights store closed in 2002.
In turn, Sears is testing smaller store formats across the US, and in some cases moving to occupy a pint-sized portion of a bigger box, as mall operators look to redevelop their properties. Their parent company, Sears Holdings, hasn't turned a profit since 2010 and warned earlier this year there was "substantial doubt" that it will be able to stay in business. The chain has closed its other area stores over the past several years.
According to Sears Holdings, liquidation sales could begin as early as Thursday, November 9.
The latest was a series of loans secured last month through Lampert's hedge fund, ESL Investments, totaling $200 million.
Sears shares were falling about 3 percent Friday morning, and are down more than 40 percent in 2017.
Still, Sears Holdings disclosed Monday that it had borrowed an additional $60 million from a group of companies controlled by Lampert.