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The Latest: No plans to close Hawaii Sears

November 27, 2018

HONOLULU (AP) — The Latest on Hawaii’s Sears stores (all times local):

12:30 p.m.

Sears Holdings Corp. says it has no current plans to close its five Hawaii stores.

The Honolulu Star-Advertiser reports Tuesday a company spokesman declined to comment further on the five Sears stores that will be sold or auctioned off as part of its bankruptcy.

The newspaper previously reported four of the Hawaii locations were listed among 505 of the company’s most profitable locations to be sold or auctioned off.

Plagued by falling sales and heavy debt, Sears filed for Chapter 11 bankruptcy reorganization in October and announced plans to close 142 of its roughly 700 remaining stores and eliminate thousands of jobs.

The company will accept a single bid or multiple offers and is also considering bids from buyers with intentions to liquidate. An auction has been scheduled for Jan. 14.

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10:20 a.m.

Four of Hawaii’s Sears stores will be sold.

The Honolulu Star-Advertiser reports Sears Holdings Corp. listed the four locations among 505 of the company’s most profitable locations to be sold or auctioned off as part of its bankruptcy.

The Oahu locations are at Pearlridge Center, Windward Mall and an appliance center at Ala Moana Center. The store in Prince Kuhio Plaza on the Big Island is also listed.

Plagued by falling sales and heavy debt, Sears filed for Chapter 11 bankruptcy reorganization in October and announced plans to close 142 of its roughly 700 remaining stores and eliminate thousands of jobs.

From its beginnings as a mail-order watch business in Minneapolis 132 years ago, Sears grew to become America’s everything-under-one-roof store and the biggest retailer in the world.

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Information from: Honolulu Star-Advertiser, http://www.staradvertiser.com

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