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BRUCE ASATO / [email protected]
The Sears store at Pearlridge Center in October.
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Sears stores in Hawaii are on auction.
Sears Holdings Corp. has listed four outlets in Hawaii – at Pearlridge Center, Windward Mall, Prince Kuhio Plaza in Hilo and an appliance store at Ala Moana Center – among the 505 most profitable locations in the company to be sold or auctioned as part of its bankruptcy, according to court documents. A point of sale at the Queen Kaahumanu Center in Kahului is not on the list.
The venerable chain of department stores based in Illinois has dramatically reduced the number of its stores before even asking for Chapter 11 protection against bankruptcy on October 15th.
Owners of Sears and Kmart announced earlier this year that they will close 142 stores by the end of the year, which complements the previously announced closure of 46 unprofitable sites.
Sears, which began as a mail order catalog in the 1880s, opened stores in 1925 and expanded rapidly throughout the 1950s and 1970s. But the company is experiencing significant success year after year, as discount chains such as Walmart, Home Depot and Best Buy, as well as online retailers, are taking a bigger share of the market.
The Lihue Kmart closed its doors in early September, following the closure of a Kailua-Kona site in August. The last KMart store in Oahu, a 135,000 square foot site in Kapolei, closed in October 2017.
Court deposits follow Black Friday – the day after Thanksgiving and are traditionally the biggest shopping day of the year.
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