LAKE CHARLES, LA (KPLC) - After 126 years in business, it seems as though Sears could be on their final leg.
We first heard about the potential of Sears closing its doors across the country months ago. Well, Jan. 8 could be the day the department store giant starts closing its doors for good.
There will be a hearing today in bankruptcy court with only one bid on the table to save Sears. Last Friday, Jan. 4, was the deadline to accept a $4 billion bid from the hedge fund run by its chairman and former CEO, Eddie Lampert.
The deadline passed with no word from Sears and if they don’t accept it, they may have to ask the court for permission to shut down their business.
The Sears here in Lake Charles already closed down, but there is still a Sears Outlet store on Gerstner Memorial Drive. We reached out this morning and they told us since they are an outlet store. They are not owned by the parent company, Sears Holdings. That means they could still operate no matter the outcome of the court hearing today. As for long term implications on the outlet store, the future is still uncertain.
Sears had over 700 stores when they filed for bankruptcy in October last year, but that number has since been cut to almost half.