Sears at Crossroads slated to close in early 2019

Sears facing liquidation says it will close 80 more stores

Sears at Crossroads slated to close in early 2019

Store employees were notified of the closings on Thursday, the company said.

Sears plans to close 80 more stores across the March, as the bankrupt retailer may be forced to liquidate its business entirely, CNBC has learned. Going out of business sales will start within two weeks. "The accompanying Sears Auto Center at these Sears stores will also be closing", Sears Holdings reported Friday.

In November, Sears announced 40 additional stores deemed "unprofitable" would close in February 2019.

The Wellsville location at 121 Bolivar Road is on the list, as is New York Kmarts in Horseheads, Greenwich and Queensbury.

Sears is not the only iconic department store struggling to stay alive; JC Penney has likewise been scrambling to figure out how to compete in an increasingly online and mall-averse shopping climate.

Sears, which employs about 68,000 workers, filed for Chapter 11 in October and wants to sell 500 of its remaining stores.

Under hedge fund manager Eddie Lampert, Sears has bought time by spinning off stores and putting on the block the brands that had grown synonymous with the company, such as Craftsman.

Most of the 80 stores will shut down by late March.

As the deadline looms for Lampert to submit his offer, Sears advisors only have until January 4, to make the decision on whether he is a "qualified bidder".

Sears' creditors have been investigating whether ESL acquired Sears valuable assets through an unfair competitive advantage. The company announced it would close 142 stores of its roughly 700 stores.

The rules give Sears flexibility to extend the deadline or make other changes that might promote more bids.

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