If you thought that closing more than 40 stores nationwide earlier this year signaled the end of an era for Sears, things have just gotten much worse for the chain.
As the deadline arrived for a massive debt payment this week, Sears Holdings Corp. filed for bankruptcy.
What does that mean for the average shopper?
Liquidation sales are starting soon at more than 140 Sears and Kmart locations from coast to coast.
And there are still good deals to be found at these stores, if you know how to get them.
Sears Is Shrinking Again
In 2013, Sears had 2,000 locations across America. While it was already past its prime, the historic department store chain was still putting up a good fight.
But increasing pressure from online retailers - and even other big box stores - has pushed Sears to the brink.
The chain has not turned an annual profit since 2010, and has lost $10 billion in the same time period.
After 46 Sears and Kmart store closings were announced this summer, another 142 were listed in the company's bankruptcy announcement, with closing sales set to begin "withing two weeks" at all of those locations while some have already begun.
(A full list of closing locations can be found at the end of this article.)
There will be less than 700 Sears and Kmart locations open after the latest round of closings, which is less than the number of stores Sears Holdings has closed in the last two years alone.
Sears has already shuttered or sold off their locations in other countries, including Canada.
It's unclear how many employees will be affected by the huge number of closings, but Sears Holdings Corp. reportedly had 90,000 employees earlier this year.
How To Get The Best Deal At Closing Sales
While a closing sale at your location may sound like a chance to scoop up some great deals, know that acting fast may not be in your best interest.
In general, the trend at closing sales is that you will not save as much as you expect, and recent store closings like Toys "R" Us proved that rule is still true.
The fact that Sears Holdings is still struggling to pay off its debtors probably means they will want to wring every last penny out of these closing stores.
So how can you make the best of a bad situation? Sadly, you may need to wait until the stores are almost empty.
Just like at a yard sale, prices will drop even further when it's time to pack up and go home. But by then, most of the quality products will probably be gone.
Still, there are some good discounts to be found already.
A staffer for Time MONEY reported that clothes and shoes were discounted by 50% at one closing Sears location.
Tools and home goods had smaller discounts, while big-ticket home appliances were down about 30%.
But those prices are not even on par with savings from a regular Black Friday event, so it could be in your best interest to wait and see before making a big purchase.
Bear in mind that Sears and Kmart offer brands like Craftsman, Kenmore, Levi's, and Timberland. But you may need to rush to the stores before those products are gone.
A Complete List Of Closing Kmart And Sears Locations
This week's bankruptcy announcement revealed that 79 Sears outlets and 63 Kmart stores will be closing.
You can check the list below to see if your local store will be closing its doors for good.
Also, check if nearby stores were among the locations that were already announced to be closing earlier this year.
- 1001 Rainbow Dr, Gadsden
- 2250 El Mercado Loop, Sierra Vista
- 3150 S 4Th Ave, Yuma
- 6515 E Southern Ave, Mesa/East
- 7611 W Thomas Rd, Phoenix-Desert Sky
- 3177 Chandler Village Dr, Chandler
- 2821 East Main St, Russellville
- 1700 Stoneridge Dr, Pleasanton
- 100 Santa Rosa Plz, Santa Rosa
- 3333 Bristol St, Costa Mesa
- 1011 W Olive Ave, Merced
- 5901 Florin Rd, Florin
- 3751 S Dogwood Ave, El Centro
- 100 Vintage Faire Mall, Modesto
- 100 Los Cerritos Mall, Cerritos
- 1401 N Montebello Blvd, Montebello
- 3001 Ming Ave, Bakersfield
- 215 W Hanford/Armona Rd, Lemoore
- 1351 E Hatch Rd, Modesto
- 375 E Alessandro Blvd, Riverside
- 3247 W Noble Ave, Visalia
- 912 County Line Rd, Delano
- 2530 S Euclid Ave, Ontario
- 3968-A Missouri Flat Road, Placerville
- 10785 W Colfax Ave, Lakewood
- 7001 S University Blvd, Centennial
- 1201 Boston Post Rd Sp 2095, Milford
- 850 Hartford Tnpk, Waterford
- 900 N W 76 Boulevard, Gainesville
- 12350 Sw 8th Street, Miami
- 733 N Highway 231, Panama City
- 300 Mary Esther Blvd, Mry Est/Ft Wltn Bch
- 1050 S Babcock St, Melbourne
- 3800 Us Highway 98 N Ste 500, Lakeland
- 303 Us Hwy 301 Blvd W, Bradenton
- 3100 Sw College Rd Ste 300, Ocala
- 400 Crosstown Road, Peachtree City
- 6239 Turner Lake Road, Covington
- 460 N Milwaukee St, Boise
- 3340 Mall Loop Dr, Joliet
- 3701 Broadway St, Quincy
- 4210 N Harlem Ave, Norridge
- 5000 23Rd Ave, Moline
- 1251 US Highway 31 N, Greenwood
- 6780 W Washington St, Indianapolis
- 3401 S Us Highway 41, Terre Haute
- 430 W Ridge Rd, Griffith
- 723 3rd Ave, Jasper
- 2803 E Kanesville Blvd, Council Bluffs
- 1111 N 2nd, Cherokee
- 2307 Superior, Webster City
- 400 South Broadway, Salina
- 7836 State Ave, Kansas City
- 4807 Outer Loop, Louisville-Okolona
- 2625 Scottsville Rd, Bowling Green
- 600 C W Stevens Blvd, Grayson
- Northridge S/C Us Hwy 127, Russell Springs
- 7000 Veterans Memorial, Metairie
- 417 Main Street, Madawaska
- 15700 Emerald Way, Bowie
- 400 N Center St, Westminster
- 10300 Little Patuxent Pkwy, Columbia
- 835 Solomons Island Rd N, Prince Frederick
- 6163 Oxon Hill Road, Oxon Hill
- 1235 Worcester Rd, Natick
- 900 Briarwood Cir, Ann Arbor
- 2100 Southfield Rd, Lincoln Park
- 06600 M-66, North Charlevoix
- 1025 M-24, Lake Orion
- 425 Rice St, St. Paul
- 12431 Wayzata Blvd, Minnetonka
- 2901-5 N Belt Hwy, St. Joseph
- 7100 NW Prairie View Rd, Kansas City
- 1 Flower Valley Shp Ctr, Florissant
- 1245 W Warm Springs Rd, Henderson
- 50 Fox Run Rd Ste 74, Portsmouth
- 1500 Highway 35, Middletown
- 1750 Deptford Center Rd, Deptford
- 779 Delsea Dr, N Glassboro
- 6600 Menaul Blvd NE Ste 700, Coronado
- 75 W Route 59 Ste 100, Nanuet
- 1111 Franklin Ave, Garden City
- 600 Lee Blvd, Yorktown Hts
- Rt 394 & Hunt Blvd, Lakewood
- 987 Route 6, Mahopac
- 8363 Lewiston Road, Batavia
- 2590 Military Rd, Niagara Falls
- 349 Orchard Park Rd, West Seneca
- 93 West Campbell Rd, Schenectady
- 703 N Berkeley Blvd, Goldsboro
- 400 Cross Creek Mall, Fayetteville
- 11033 Carolina Place Pkwy, Pineville
- 1530 East Broad Street, Statesville
- 4500 Western Blvd, Raleigh
- 1001 Patton Ave, Asheville
- 5320 Youngstown Rd, Niles
- 15891 State Rt 170 East, Liverpool
- 17840 Bagley Rd, Middleburg Heights
- 6929 S Memorial Dr, Tulsa Woodland Hls
- 9800 SW Washington Square Rd, Washington Sq
- 3201 W Main St, Norman
- 827 Lancaster Dr NE, Salem (Lancaster)
- 3955 S W Murray Blvd, Beaverton
- 880 Butler Street, Pittsburgh
- 5522 Shaffer Rd Ste 129, Dubois
- 100 Neshaminy Mall, Bensalem/ Crnwls Hts
- 2300 E Lincoln Hwy, Langhrn /Oxford Vly
- 720 Clairton Blvd/Rte 51, Pleasant Hills
- 528 W Plank Road, Altoona
- 1502 South Fourth St, Allentown
- 1000 Nutt Rd, Phoenixville
- 1170 Mae Street, Hummelstown
- 100 Tarentum Rd, New Kensington
- 1180 Walnut Bottom Rd, Carlisle
- 3205 Lincoln Hwy, Thorndale
- 111 Hulst Dr, Ste 722, Matamoras
- 129 West Butler Avenue, Mauldin
- 2302 Cherry Rd, Rock Hill
- 7600H Kingston Pike, West Town
- 2800 N Germantown Prkway, Cordova
- 2801 Wilma Rudolph Blvd, Clarksville
- 2100 Hamilton Place Blvd, Chattanooga
- 6909 Maynardville Pike NE, Knoxville
- 7508 N Navarro St, Victoria
- 2901 S Capitol Of Texas Hwy, Austin/Barton Creek
- 3450 W Camp Wisdom Rd, Southwest Ctr
- 2501 Irving Mall, Irving
- 6301 NW Loop 410, Ingram
- 1000 E 41st, Austin
- 6002 Slide Rd, Lubbock
- 2002 S Expy 83, Harlingen
- 2605 Preston Rd, Frisco
- 100 Newmarket Fair Mall, Hampton
- 6364 Springfield Plaza, Springfield
- 118 Waller Mill Rd, Williamsburg
- 2712 W Main St, Waynesboro
- 3500 S Meridian Ste, 900 Puyallup
- 1001 E Sunset Drive, Bellingham
- 9520 Mall Rd, Westover/Morgantown
- 1701 4Th Ave W, Charleston
- 701 SE Wyoming Blvd, Casper
- 4000 East 2nd Street, Casper