The stock of Sears Holdings Corp (NASDAQ:SHLD) closed at $3.40 gaining 3.03% in yesterday’s trading session. Sears is looking forward to regain its vibrancy and profitability. To reach this particular goal, it has resolved to auction off a number of its stores, one of them being the one situated at Rolling Oaks Mall on San Antonio’s northeast side.
It was just recently when an official working with the company addressed several news reporters revealing that the company is at the moment holding the auction online for sixteen properties. Asides from the store at Rolling Oaks Mall, Sears stores in Pasadena, Humble, Baytown and Beaumont have also been included on the auction block. The deadline for the various interested buyers to make submissions of their online bids has been set on May 1.
It is almost a century down the line since the time Sears was established in Chicago. It is worth noting that the 1970s were years of major break-through for the company. It was around that time that it set up the iconic, 110-story Sears Tower. This building turned out to be the tallest building globally for a record period of about 25 years.
It is worth noting that for about 120 years Illinois has been home to Sears and apparently that won’t be changing any time soon according to Howard Riefs who happens to be the spokesman for Sears. However, he delved deeper into the matter to disclose that as a company they were very much disappointed by the closure of their last store in Chicago. However, he asserted that the occurrence wasn’t in any way going to impact their commitment and dedication to customers as well as their presence to Chicago’s residents.
Sears is also the owner of Kmart and it is worth noting that it has been focusing a great deal on the sale of brands and real estate and it is crucial to point out to the fact that it kept them afloat amid years of declining sales. The Company will soon make another statement where it will reveal more of its plans.