11 Sears stores to fade away
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.