TOMS RIVER, NJ — First it was Sears. Now, Toms River's Kmart is closing down as well.

The Route 37 store is on a list of 80 locations that are being closed by Sears Holdings in the newest round of closings, and the once-iconic retailer could very well be on its last legs. A report from CNBC on Thursday said Sears could face liquidation if hedge fund owner Eddie Lampert doesn't make a bid for the company by Friday, Dec. 28. Lampert's hedge fund, ESL Investments, was the only one offering to buy Sears as a whole, CNBC reported.

As the deadline for a buyer inched closer, Sears announced the additional closures. The stores will close in late March 2019 and liquidation sales at the stores will begin in two weeks, according to Sears. The Sears Auto Centers at these stores will also be closing. The 80 closures announced on Friday are in addition to the 40 closures announced in November. Those 40 stores are slated to close in February 2019.

The Toms River Kmart is the only one in New Jersey closing in this round on the list released Friday. The Sears at the Ocean County Mall closed in early 2018. At the time, locals expressed surprise that the Kmart stayed open, and many wondered how long it would remain. The Hoffman Estates, Illinois-based company filed for Chapter 11 bankruptcy in October, announcing the closure of 142 unprofitable locations at the time.



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