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Sears will close its store in the northern suburbs of Niles in mid-December and firing 75 workers, according to a report from the Illinois Department of Trade and Economic Opportunities.
Niles was not among the 46 Sears and Kmart sites, and Sears Holdings Corp., the parent company of Hoffman Estates, was reported to have closed before the holidays. But an announcement in August suggested that other closures could follow.
Sears also reported to the state 75 layoffs at its headquarters, which took place in September.
As the company becomes smaller and looks for ways to reduce costs, "we continue to evaluate all aspects of our cost structure and take action to achieve cost savings, including increased consolidation of costs. Sears and Kmart's business and support, "said spokesperson Larry Costello. in an email. "We do not take these decisions lightly, but they are an integral part of our efforts to transform the business and bring it back to profitability."
It was not the first round of job cuts or store closures for the struggling chain of this struggling chain of stores this year. Sears has already announced two rounds of layoffs affecting 420 employees, and the 46 stores listed on the August closure list are adding to the 78 additional stores announced by the distressed chain of stores since May.
Last month, Sears chairman Edward Lampert's hedge fund urged the company to restructure its debt and sell its assets, including almost all of its real estate, to avoid bankruptcy. The company said it expected to have half the Sears and Kmart stores by the end of the year than it did two years ago.
However, the downsizing did not require the closure of stores. Last week, the company reopened Sears at Oakbrook Center after a remodel that brought the store back to about a quarter of its old footprint.
Twitter @laurenzumbach
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