Are The Last 2 Sears Stores In Maine Closing For Good?
Maine had a love affair with Sears that lasted for decades. In many places, before the large discount retailers rolled into town, Sears was the go-to for a variety of merchandise. If the stores did not have a particular item in stock, you could order it through the store and it would be there within a few days.
In fact, the whole reason that Augusta has the Turnpike Mall is because of Sears. In 1967, a MASSIVE Sears store opened on that site. The 70,000 square foot store would act as the anchor store for a host of other businesses. That Sears store remained in business for a half century, closing its doors for the last time in 2017.
Over the last few years, we have heard that story quite a bit. This store is closing. That store is closing.
Now, it looks like the last two Sears stores in the entire state are calling it quits.
According to WGME, both the Farmington Sears Hometown Store and the Caribou Sears Hometown store have started selling their remaining inventory a big discounts.
This move follows the store owners, Sears Authorized Hometown Stores and Sears Hometown Inc., filing for Chapter 11 bankruptcy protection in mid-December. The TV station's article goes on to say that the Illinois-based companies are reportedly using Tiger Capital Group, SB360 Capital Partners and B. Riley Retail Solutions to handle the "wind-down sales".
The two remaining Maine stores are not the only Sears locations liquidating inventory. The WGME article explains that there are over 100 stores in 36 states and Puerto Rico that are currently in the process of selling product.
How big are these discounts? A representative for the company has said the discounts are as high as 40 percent, but they could go higher for floor models or those with scratches or dents. The stores will continue to honor gift cards.
While it does look as though these stores are closing, it does not appear that they have set closing dates or released any concrete details about the closings.