HOFFMAN ESTATES, Ill. (AP) — Sears plans to sell the sprawling suburban Chicago corporate headquarters that has been the struggling retailer’s home for three decades.
Sears’ parent company, Transformco, confirmed this week that in early 2022 it plans to market the 273-acre corporate headquarters in the northwest suburb of Hoffman Estates.
Transformco has been downsizing Sears’ operations and corporate staff for several years. Sears was once the nation’s largest retailer, but it has struggled in recent years, seeking Chapter 11 bankruptcy protection in 2018 with billions of dollars in debt. Transformco purchased the retailer and 425 stores in a 2019 bankruptcy auction.