11 Sears stores to fade away
Friday, February 24, 2012 11:04 AM
Sears appears to be on its way out at Coral Ridge Mall in Coralville, the Cedar Rapids Gazette reported, after the retailer sold its store there - and 10 other Sears spaces at other malls - to Coral Ridge's owner. Chicago-based General Growth Properties Inc. announced on Thursday that it has reached an agreement with Sears Holdings Corp. to acquire 11 Sears "anchor pads" in its retail centers for $270 million. The stores will continue to operate as Sears locations into 2013, with final closing dates to be determined and announced later this year, the company said in a statement.