They dodged the bullet multiple times, but on 12/28/18, it appears they were hit. The Jackson location of Sears will be closing in March.
The retailer that, at one time was the nation's largest, has been weighing closing up to 80 more stores, in their attempt to stay alive. Sears' chairman, Eddie Lampert, has been trying to put together the financing in order to buy the company out of bankruptcy. This latest round of announced closings includes the Jackson location. Altogether this year, Sears has announced plans to close more than 250 of 700 locations. Read more about the latest list of closings here.
One of the mall's other anchor stores may be on the verge of trouble as well...JCPenney stock fell below $1 Friday (12/28). Their stock hasn't fallen that low since it debuted in the 1970's. The retailer is struggling after turning in weak results for its latest quarter (revenues declined 5.8%,and comparable sales fell 4.5%). Local speculation is that the Jackson store has remained open primarily because the current CEO is from nearby Brownsville. How long it can remain afloat is unforseen.
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