Sears closing Goldsboro store as part of bankruptcy plans

Published: Oct. 15, 2018 at 6:22 AM EDT
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Sears says it plans to close three North Carolina stores, including one here in Eastern Carolina, as part of its bankruptcy plans.

The company says it will shutter the Sears at Berkeley Mall in Goldsboro, as well as stores in Fayetteville and Pineville.

The company announced Monday that it would close 142 unprofitable stores as part of its Chapter 11 reorganization plans.

Locations in Greenville and Jacksonville do not appear to be impacted by the bankruptcy.

Sears filed for Chapter 11 bankruptcy protection, buckling under its massive debt load and staggering losses.

The company once dominated the American landscape, but whether a smaller Sears can be viable remains in question.

It joins a growing list of retailers that have filed for bankruptcy or liquidated in the last two years amid a fiercely competitive climate. But with its sheer colossal size, Sears' reorganization in court will have even wider ripple effects.

The operator of Kmart and Sears stores has already closed hundreds of locations and has put other famous brands on the block as it burns through money and sees more customers abandon its often-neglected stores.

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