Business & Tech

Sears Store Near San Antonio Among Those Closing In Bankruptcy

Sears Holdings plans to close 142 stores nationwide as part of its debt reorganization, including nine Texas sites.

AUSTIN, TEXAS β€” Sears Holdings is closing more than 140 stores across the country as part of a bankruptcy filing, including one near San Antonio, company officials said Monday.

The company filed for reorganization of its debt under Chapter 11 of the bankruptcy code on Monday, just as a $134 million debt payment had come due. As part of its debt reorganization, the parent company of Sears and Kmart will shutter 142 stores in the coming months, including the Sears store at 6301 NW Loop 410.

All told, nine Texas stores are scheduled to be closed imminently, including three in Dallas and others in Austin, Frisco, Harlingen, Ingram, Lubbock, McAllen and Victoria.

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Sears' falling financial fortunes reflect the struggles of the iconic "big box" retailer once dominant across the national retail landscape before the onset of online shopping. And they're not alone: Traditional brick-and-mortar retailers have been adversely affected by shifting consumer spending habits in an age of bolstered online shopping.

"Debtors have engaged to advise the debtors on the most effective way to run a seamless and efficient multi-store closing process, and to maximize the value of assets being sold," company officials wrote in a court filing in the Southern District of New York. "The relief requested in this motion is integral to maximizing the value of the debtors' estates and it will establish fair and uniform store closing procedures to assist the debtors and their creditors through the debtors' transition to a leaner, more profitable enterprise."

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Search the map below to see where other Sears stores slated for closure are located in Texas:

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>>> Top image: A sign announcing the store will be closing hangs above a Sears store on August 24, 2017, in Chicago. (Photo by Scott Olson | Getty Images)


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