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Sears, Roebuck and Co., commonly known as Sears (/ s ɪər z / SEERZ), [6] is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began as a mail ordering catalog company migrating to opening retail locations in 1925, the first in Chicago. [7]
Sears’ last-remaining store in the New York metro area is closing, bringing the number of Sears locations still in existence down to about a dozen.
Simeon Siegel, a retail analyst at BMO Capital Markets, said it was still possible for a store with strong brand-name recognition, like Sears, to make a comeback, even in the internet age.
However, Sears subsequently announced the closure of 96 more stores in late 2019. [277] The company's headquarters were divested in 2022. [278] Further dismantling of the Sears and Kmart store network continued in the subsequent years, and as of 2024, only eight Sears stores and one Kmart store remain in the continental United States. [279] [280]
In November 2021, the Sears closed. [8] [9] Although the landmarked building is protected from demolition, Clipper Equity announced plans to build two seven-story buildings on the remainder of the site, with 650 residential units between them. [10] In March 2024, Clipper Equity received a $24 million loan for the redevelopment.
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The Sears store at The Town Center at Boca Raton has been empty since 2018, ... 2024 at 5:00 AM. ... Palm Beach County property records show that Seritage still owns the Boca Raton property.
On October 23, 2019, Sears Hometown and Outlet Stores completed its sale of its Sears Outlet division to Franchise Group, Inc. [56] while Transformco completed the acquisition of the remainder of Sears Hometown at the end of the same business day. [57] Sears Hometown had 414 stores at the time of its acquisition by Transformco in October 2019. [28]
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