Sears store in Fayette Mall to close in January

December 12, 2013 

The Sears sign inside Fayette Mall will be coming down soon as the iconic store will leave after doing business in Lexington for the past 80 years. Some of the store's fixtures will be sold to the public, a spokesman said.

PABLO ALCALA — Lexington Herald-Leader Buy Photo

The Sears store at Fayette Mall in Lexington will close for good in mid-January, according to its parent company, Sears Holdings Inc. Spokesman Howard Riefs wrote in an email message that an exact date is not available.

Some of the store's fixtures will be sold to the public, he said.

The store has begun liquidating its merchandise.

Katie A. Reinsmidt, a senior vice president at Chattanooga-based CBL & Associates Properties, which owns Fayette Mall, wrote via email that plans for the space after Sears vacates it have not yet been finalized.

Sears announced in July that it would close the Fayette Mall store.

Sears stores have been open in Lexington for the past 80 years, when the first one opened downtown. Central Kentucky was one of the first national sites for Sears, which began as a catalog business in 1893 in Chicago and branched out to retail stores in 1925. Along with McAlpin's and Shillito's, it was one of the city's largest department stores.

The past few years have been arduous for Hoffman Estates, Ill.-based Sears.

In 2011, the company, amid declining profits, announced that it would close 120 of its Kmart and Sears full-line stores.

Last year, Sears announced plans to restore profitability by cutting costs, reducing inventory, selling off some assets and spinning off others. It closed 62 stores.

Those moves helped it reduce net debt by $400 million and generated $1.8 billion in cash from the asset sales in the latest fiscal year.

Still, Sears continued to face losses. In November, it reported a wider third-quarter loss as revenue declined 7 percent to $8.27 billion.

Earlier this month, Sears announced that it is spinning off its Lands' End business, a clothing and home goods retailer that began in 1963 and was bought by Sears in 2002.

This is an endnote here an dhdjbfv jhbdvf djfbvjd vhbdfjv jdbvf jdfjbvh jvfjkdbfThe Associated Press contributed to this report.

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