Quinn had 'good, long' talk with Sears CEO about closures

Hoffman Estates-based Sears Holding Corp., parent of Sears and Kmart stores, on Thursday released a list of 79 stores targeted for closure, but none are in Illinois.

Stores include Sears Hardlines, Sears Grand, Sears Essentials and Kmart stores in states across the country, the company said in a statement, but specifics on closing dates and job losses weren't provided.

Sears said Tuesday that it planned to close 100 to 120 stores after a rough holiday shopping season and losses over the last four years. It had steadily attempted to reinvent itself with various versions of Sears and Kmart stores, including the Essentials and Grand strategies, which didn't work.

The types of branded stores selected for closure didn't surprise Morningstar retail analyst Paul Swinand, who suggested more than the 100 to 120 stories might eventually close.

“It depends on the economy and Sears' execution,” said Swinand. “If we take current trends, yes, there'll be other rounds, even if it stabilizes after this.”

Sears spokeswoman Kimberly Freely declined to comment on the closures, the time table, the number of affected workers, or when more closings would be announced.

Earlier this week, Gov. Pat Quinn said he hoped the state wouldn't see many closures, given the large tax breaks the state just approved to lure the retail giant to keep its corporate base in Hoffman Estates.

“The governor had a good, long conversation with Sears CEO Lou D'Ambrosio yesterday,” Quinn spokeswoman Brooke Anderson said Thursday. “And we're pleased with today's outcome.”

The company's original announcement that it would close stores caused consternation this week among some lawmakers, who questioned the company's move just weeks after Sears was promised up to $275 million in tax breaks over more than a decade.

With the company still looking to close as many as 40 more stores, some Illinois locations could still be eventually targeted.

State Rep. Fred Crespo, a Hoffman Estates Democrat, said he thinks the company took Illinois' recent tax breaks into account when creating a list that spares Illinois stores.

“I think it's a byproduct of what we did in Illinois,” he said.

The company said additional store closures will be listed when they become available. You can find the list at searsholdings.com/about/122711_close.pdf.