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Sears closing downtown Chicago store

Hoffman Estates, Ill. – Sears plans to close a store in the Loop section of downtown Chicago in April 2014. Sears spokesperson Howard Riefs announced the closing in an email which said the store’s 160 employees, most of whom are part-time, will be eligible to apply for jobs at other Sears stores in the area and also to receive severance.

The email also said the store has lost millions of dollars and Sears cannot afford its operating losses. In a separate blog posting, Sears CEO Edward Lampert said Sears and its competitors may need fewer locations to better serve customers.