Sears to close Fairview Heights location

Sears facing liquidation says it will close 80 more stores

The Sears in Lincoln will be closing its doors in 2019, the company announced on Thursday.

Bankrupt U.S. retailer Sears Holdings Corp.is closing 80 more stores as it teeters on the brink of liquidation.

Sears associates were told December 27 and liquidation sales are expected to begin in two weeks.

Kmart's parent company announced it will close the Grand Forks store in March.

Its best chance to continue is a $4.6B proposal from its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments.

In Mississippi, Kmart's website also lists a store in Columbus. He said his plan would retain the jobs of 50,000 of the 68,000 workers employed by Sears at the time of the bankruptcy filing. If he doesn't, and Sears has no other bids, the company can do one of two things: liquidate its assets, which could take months to complete, or extend the deadline.

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Sears declined to comment. He was invested millions into Sears with the help of ESL as he worked to try to keep the Sears alive, including a loyalty program for customers with "Shop Your Way", CNBC said.

While Lampert has said he intends to make the bid, he has not formally filed one with the bankruptcy court.

The ESL bid follows a series of moves that Lampert has offered to salvage the company over the past few years.

Columbia Center's movie theater also recently closed but is being replaced by a Dick's Sporting Goods, now under construction.

Sears filed for bankruptcy in October and has since shuttered hundreds of stores as it attempts to restructure and return to profitability.

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