May 05--The longest-standing store in Sears' chain will close in August after 90 years in operation.
A liquidation sale at the store, 1900 W. Lawrence Ave., in Chicago's Ravenswood neighborhood, will start May 19, said Sears Holdings spokesman Howard Riefs.
The Lawrence Avenue Sears opened in November 1925.
A nearby Sears Auto Center will remain open. Eligible employees will receive severance and have the opportunity to apply for open positions at area Sears and Kmart stores, Riefs said.
Last month, Hoffman Estates-based Sears Holdings announced it would close 68 Kmart stores and 10 Sears stores, including six Illinois Kmart locations, by summer.
"Store closures are part of a series of actions we're taking to reduce ongoing expenses, adjust our asset base and accelerate the transformation of our business model," Riefs said in an email.
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