Sears plans to keep closing stores even if it survives bankruptcy

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(CNN) -- If Sears emerges from bankruptcy this month, the company will probably close dozens more stores by the end of the year.

The company anticipates closing about 36 of the 200 remaining Kmart stores, according to a business plan filed with the court last week by a top executive of Sears Chairman Eddie Lampert's hedge fund.

The court is determining this week whether to accept Lampert's $5.2 billion offer to rescue the bankrupt company.

Sears' stores are sitting on valuable real estate. The plan estimates that real estate sales will generate $200 million a year through 2021.

Those sales will be a key way the "new" Sears would pay off debt.
Lampert insists he wants to buy the company because he believes a smaller Sears with less debt can be profitable and competitive.



 
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