Sears to close eight more stores in early 2009
Sears Holdings will close eight stores — including four Great Indoors locations — in February, the Hoffman Estates, Ill., retailer confirmed Nov. 14.
This brings the total of Sears stores slated to close in early 2009 to 20. It was previously announced that Sears would close a dozen stores early next year because of poor sales.
The stores that will close in February are as follows: Great Indoors stores in Las Vegas, Schaumburg, Ill., Woodbridge, N.J., and Chino Hills, Calif.; a Sears Essentials store in Clearwater, Fla.; and Sears Grand stores in Menomonee Falls, Wis., and American Fork, Utah. A Kmart in Fairmont, Minn., will also cease operation.
The three Sears stores will close “as the result of a normal review of underperforming stores,” Sears spokeswoman Katie Regan told HCN.
Sears will close the other dozen stores previously announced on Jan. 31.
The closing of the Schaumburg store on Feb. 4 will affect 113 employees and result in just one Great Indoors store (in Lombard, Ill.) remaining open in the Chicago area and 12 nationwide.
Foreclosure filings up in October
U.S. foreclosure filings increased 5 percent from September to 279,561 properties this month — one in every 452 households. That is up 25 percent from October 2007, according to research firm RealtyTrac.
“We’ve seen sharp declines in new foreclosure filings after legislation mandating delays to the foreclosure process was signed into law in several states — most notably in California, where overall foreclosure activity was down by double-digit percentage points for the second straight month in October,” said James J. Saccacio, CEO of RealtyTrac. “Despite this, October marks the 34th consecutive month where U.S. foreclosure activity has increased compared to the prior year.”
Nevada reported the highest state foreclosure rate for the 22nd consecutive month in October. Foreclosure filings in Nevada stood at 14,483 properties this month, up 11 percent from the previous month.
Arizona posted the second highest state foreclosure rate, with 17,507 filings, up nearly 35 percent from September.
Florida registered the third highest state foreclosure rate, with 54,324 filings, an increase of 13 percent from the previous month.
Other states among the top 10 were California, Colorado, Georgia, Michigan, New Jersey, Illinois and Ohio.
Two nonprofits receive $10,000 checks from Ace
Ace Hardware awarded two nonprofit organizations with $10,000 checks recently as part of its 2008 New Faces for Helpful Places program.
Chattanooga Rescue Mission in Chattanooga, Tenn., one of 10 organizations chosen from 2,600 entries nationwide, received a visit from the Ace crew Nov. 11. The mission, which has provided help for homeless men and women for 30 years, will be remodeled by a crew from Ace and some local volunteers.
Springtides, a Cedar Rapids, Iowa-based nonprofit group that works with children with developmental and behavioral issues, received a $10,000 check from Ace on Nov. 12. The organization, founded in 2000, hopes the award will result in a new waiting area for families, according to local news station KCRG.