US chain Sears will close more stores

On the verge of bankruptcy, the US chain Sears will close another 80 stores

The establishments will be added to the 182 that are already programmed to stop operating. The company filed for bankruptcy in October and on Friday the deadline to receive offers to purchase its remaining businesses expired in order to avoid a total liquidation.

The iconic US store Sears will close 80 additional stores as it teeters on the brink of bankruptcy and expects a saving offer for the purchase of the remaining assets of the company.The retailer, once the largest department store chain in the United States, set Friday as the deadline to receive purchase offers from its remaining stores in order to avoid closing altogether.

The chain, which began as a sales catalog by mail in the 1880s, has been immersed in a slow downward spiral towards bankruptcy, affected by the Great Recession and later overwhelmed by its competitors, both physical and online.

The 80 stores will close in March, added to the 182 stores that are already scheduled for closure, including 142 by the end of 2018 and 40 more by February. The company filed for bankruptcy in October, signaling at that time that it would close more than 20% of its premises and only keep its 500 most profitable establishments active.

Sears Holdings Corp., which also manages Kmart, joins a list of retail brands absorbed by hedge funds that fell apart under the weight of the debts imposed on them. Sears has gained time by getting rid of some stores and selling iconic brands like Craftsman.

Lampert, the company's president, and main shareholder loaned out his own money and made agreements to keep the company afloat and deliver any profits he could get to the ESL risk fund. Lampert and ESL have been trying to buy the rest of Sears for up to 4,600 million dollars in cash and shares, which for many is the only chance to save the company.