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Some retailers have been facing financial challenges recently that have caused once-massive companies to topple. Chains that at their peak had thousands of locations have now dwindled down to just a handful. That is the case for Sears, which at one point was the largest retailer in America, boasting over 3,500 locations. However, after hard times and bankruptcy, the 131-year-old company has closed most of their stores over the years and this week, they shuttered another, leaving just eight remaining locations.
The chain closed their Tukwila, Washington store, so the only remaining Sears now are in Burbank, Concord and Whittier, California; Miami and Orlando, Florida; Braintree, Massachusetts; El Paso, Texas, and San Juan, Puerto Rico. The Tukwila closure is the fourth this year, following the shuttering of stores in Jersey City, New Jersey; Stockton, California, and Union Gap, Washington.
It's been a rough couple of decades for Sears following years of successes. In 2005, Kmart Holding purchased all of Sears' locations in an $11 billion merger, but facing tough competition from Walmart, Target, Amazon and Costco, and due to fewer people heading to brick-and-mortar stores, in 2018, Sears Holding filed for Chapter 11 bankruptcy. By then, there were only 700 stores left, and of those another 260 had to close. They were bought out of bankruptcy for $5.2 billion in 2019, but since then have continued to both struggle financially and close stores, bringing them now to their final eight.