Tuesday, January 08, 2019

Joplin's Northpark Mall Sears store appears doomed, company liquidation announcement expected

The Sears board of directors rejected CEO Eddie Lampert's $4.4 billion buyout plan Friday and liquidation plans could be announced as early as today, according to the New York Post.

That would result in the closing of the remainder stores, including the Sears anchor store at Joplin Northpark Mall, which has survived several rounds of store closings over the past couple of years.

Lampert's rejected plan called for him to pay $4.4 billion and would have kept 425 stores open.

With no other suitors on the horizon, it appears the only possibility for Sears's survival would be for Lampert to submit an offer that would include more money.

A liquidation would also close the remaining KMart stores, which are also owned by Sears.

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