Sears closing 103 more stores, including Orland Square

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Liquidation sales will start next week at the 103 Sears, Kmart and Sears Auto Center stores that the shared parent company plans to close. Liquidation sales at the affected locations would start January 12.

In its statement, Sears Holdings said it will continue to "close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members".

In total, 39 Sears and 64 Kmart stores will close.

Kmart opened the 124,000-square-foot store at the mall in September 1994. Sears relaunched its Wish Book catalog online late a year ago. The stock closed Friday at $3.48, down 2.79 percent.

"There is an opportunity for us to use the existing retail and have this open space because it doesn't get any better that existing Watson frontage opening up for 3 or 4 stores", Hogan said. Sears leases the almost 200,000-square-foot store from Seritage Growth Properties, a real estate investment trust spun off from Sears in 2015.

Sears closing over 100 stores, including Hanford

In late 1989, Sears moved from that location to be one of the original anchors in the then-new Gateway Mall. Since 2011, Sears has lost more than $10.4 billion. Sears CEO Edward Lampert is also an investor in Seritage and chairman of the company's board.

Business Insider reports the company's sales are down 45% since early 2013.

Macy's announced in August it was closing 100 stores, with the remaining 11 stores closing in the first quarter of this year.

"It's definitely the online shopping", she said.


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