Depending on how old you are, you may remember the infamous department store, Sears. Well, the company has decided to shut the doors on its last store this fall.
The remaining store is in the retailer’s home state, Illinois, which was the location of the first store opened in 1925.
The last store is located in the Woodfield Mall in Schaumburg—a Chicago suburb. Its doors will close on November 14, CNN reported.
Transformco acquired Sears Holding in 2018, after the company filed for bankruptcy. However, there are plans to redevelop the property.
“We intend to reinvigorate and maximize the value of the real estate while enhancing the consumer experience with popular retailers that fit the regional draw of Woodfield Mall,” said Scott Carr, president of Real Estate for Transformco.
Transformco wants to focus on growing Sears online store and the Sears Home Services business.
“This is part of the company’s strategy to unlock the value of the real estate and pursue the highest and best use for the benefit of the local community,” Larry Costello, Transformco’s public relations director, said in a statement.
Sears will keep its 11 Sears Hometown Stores in Illinois that operate primarily in small towns. These stores are significantly smaller than Sears department stores and sell mainly hard goods and appliances.