Sears at Park City Center in Lancaster among those closing in March

Sears at Park City Center in Lancaster among those closing in March

In total, 80 Sears and Kmart stores are on the latest closure list for the iconic retail chain.

Lampert's bid would preserve about 425 stores that Sears has yet to close, and secure the jobs of 50,000 workers out of the 68,000 employed by the retailer, the sources said.

The hedge fund owner of Sears announced plans Friday to close 80 stores, including two in Maryland, amid a looming bankruptcy deadline.

According to Newsweek, Sears has less than 24 hours for a bidder to save the store from complete liquidation.

Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million.

A Sears store in Sioux City, Iowa, is also among those being closed.

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The 80 stores are due to close by March.

The company, which had almost 700 stores at the time of its bankrutpcy filing, has been seeking a bidder willing to keep 500 of the remaining stores open as part of a reorganization of the business. The judge will weigh the opinions of other stakeholders, including unsecured creditors who have argued they could recover more of their investment if the department store operator winds down.

However, that could change if Sears decides to push back the deadline.

At the time of the bankruptcy filing, Sears Holdings operated some 700 Sears and Kmart stores.

Minnesota stores include the three-level location at the Mall of America, which was not originally on the list of stores closing. The company hadn't turned a profit since 2010, and has lost about $11 billion since 2011.

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