Sears is closing more stores and selling others in an online auction

  • Sears is closing several stores and selling 16 others in an online auction.
  • The closing stores include Kmart and Sears locations in Wilmington, North Carolina; Youngstown, Ohio; Brandon, Florida; and Saugus, Massachusetts.
  • The properties for sale are in Missouri, Michigan, Ohio, Indiana, and Texas. 
  • They are advertised as sale and lease-back deals, meaning Sears would make rent payments to the winning bidders to remain in the space. 

Sears is closing several stores and selling 16 others in an online auction. 

The closing stores include Sears locations in Wilmington, North Carolina, and Youngstown, Ohio, as well as Kmart stores in Brandon, Florida, and Saugus, Massachusetts. Sears will also likely close its store at Tacoma Park Mall in Tacoma, Washington. The owner of the mall, Simon Property Group, recently revealed plans to demolish the Sears store and replace it with several buildings, including a movie theater.

Most of the stores will close between May and July, according to layoff notices filed by Sears. The stores were not included in two previously announced rounds of mass closures to be carried out this year, which affected a total of 166 stores.

Meanwhile, the company is selling a handful of stores online through a partnership with Cushman & Wakefield, a real-estate services firm, The Wall Street Journal reports.

SearsReal Insight Marketplace

The properties are advertised as sale and lease-back deals, meaning Sears would make rent payments to the winning bidders to remain in the space. 

Some properties with flexible lease agreements would allow for the store space to be redeveloped into self-storage, hotel, or residential units, according to the Journal. Depending on the terms of the lease, it's possible that the Sears stores could shut down entirely or shrink to take up less space on the property, as the company has done in a number of other stores.  

RELATED: Check out some more places Sears is closing its doors this year: 

13 PHOTOS
Sears locations closing in Jan. 2018
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Sears locations closing in Jan. 2018

Alabama

  • 1701 Mcfarland Blvd E, Tuscaloosa, AL

(Getty)

Arkansas 

  • 5111 Rogers Avenue, Fort Smith, AR
  • 4201 N Shiloh Drive, Fayetteville, AR

(Getty)

Arizona

  • Fiesta Mall, Mesa, AZ

(Photo by George Frey/Getty Images)

Colorado

  • Greeley Mall, Greeley, CO

(Photo by George Frey/Getty Images)

Georgia

  • 8020 Mall Pkwy, Lithonia, GA
  • 1709 Baytree Road, Valdosta, GA

(Photo by George Frey/Getty Images)

Massachusetts 

  • Berkshire Mall, Pittsfield, MA

(Photo by Scott Olson/Getty Images)

Maryland

  • 7885 Eastern Blvd, Baltimore, MD

(Photo by Richard Levine/Corbis via Getty Images)

New Jersey

  • 1200 Us Rt 22, Phillipsburg, NJ

(Photo by John Greim/LightRocket via Getty Images)

Pennsylvania

  • 2999 E College Avenue, State College, PA
  • 300 Lycoming Mall Circle, Pennsdale and Muncy, PA
  • 2334 Oakland Ave, Indiana, PA

(Getty)

Texas

  • 4000 Sunset Mall, San Angelo, TX
  • 4600 S Medford Dr, Lufkin, TX

(Photo by George Frey/Getty Images)

Utah

  • 754 S State Street, Salt Lake City, UT

(Getty)

Virginia

  • 114 Southpark Circle, Colonial Hts, VA

(Photo by George Frey/Getty Images)

Wyoming 

  • 1400 Del Range Blvd, Cheyenne, WY

(Photo by Scott Olson/Getty Images)

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Sears declined to comment on the store closures and auctions.

Buyers have until May 1 to signal interest in the properties for sale. In late May, an online auction will be held where interested buyers can bid on the properties in real time, according to Real Insight Marketplace.

The following Sears stores are for sale: 

5 PHOTOS
Sears locations that are for sale
See Gallery
Sears locations that are for sale

Indiana: 

  • Castleton Square Mall, Indianapolis, Indiana
  • Southlake Mall, Merrillville, Indiana
  • University Park Mall, Mishawaka, Indiana

(Photo by George Frey/Getty Images)

Michigan:

  • Twelve Oaks Mall, Novi, Michigan

(Richard Lautens/Toronto Star via Getty Images)

Missouri:

  • 330 Siemers Drive, Cape Girardeau, Missouri
  • South County Center Mall, Mehlville, Missouri
  • Twelve Oaks Mall, Cottleville, Missouri
  • Battlefield Mall, Springfield, Missouri

(Photo by George Frey/Getty Images)

Ohio:

  • Great Northern Mall, North Olmsted, Ohio
  • Richland Mall, Mansfield, Ohio
  • Southpark Center, Strongsville, Ohio

(Photo by George Frey/Getty Images)

Texas: 

  • Parkdale Mall, Beaumont, Texas
  • Deerbrook Mall, Humble, Texas
  • San Jacinto Mall, Baytown, Texas
  • Rolling Oaks Mall, San Antonio, Texas
  • Plaza Paseo Mall, Pasadena, Texas

(Photo by George Frey/Getty Images)

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