Sears shutting down at RI Mall location

As Sears Canada enters a court-supervised restructuring the company's pop-up shop in downtown Toronto is trying to entice new shoppers with a hipper image

Some will be eligible for severance pay and others will be able to apply for open positions at area Sears or Kmart stores.

The Sears logo is seen on the side of a store March 24, 2005 in San Bruno, California.

On Friday, Sears Holdings announced plans to shut an additional 20 stores that are losing money, including 18 Sears stores and two Kmart locations.

The Sears at the Great Lakes Mall in Mentor is closing, a spokesman for the company confirmed on June 23.

The Kmart store at 2801 W. State St.in Olean is the latest casualty of retail downsizing. A Sears Home store in Calgary is also closing.

Sears is hardly the only retailer shuttering locations. Other stores were closed earlier this year and now eight Sears stores remain in the state, almost all accompanied by an auto center. The announcement came after the Ontario Superior Court of Justice granted the department store chain temporary protection from creditors under the Companies' Creditors Arrangement Act (CCAA).

The future of one of the best-known brands in the retail travel industry - Sears Travel - is up in the air now that Sears Canada Inc. has filed for creditor protection.

However, last week Sears Canada said it had "significant doubt" as to whether it could continue to operate as a profitable business, despite reassurances last quarter its work to reinvent the business was starting to resonate with consumers.

In 2015, Sears sold 235 Sears and Kmart store locations to Seritage as part of an agreement in which Sears Holdings leases the stores back from the REIT.

Lampert's investment firm owns 43.5% of the limited partnership units of Seritage and controls 7.9% of its voting power.

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