It appears Sears Hometown Store, a longtime Durango Mall tenant, will be closing and selling its inventory.
A sign holder on Friday at the intersection of Camino del Rio and Sawyer Drive advertised the store’s closure. And a link to the company’s website on the Durango location’s Facebook page says that “All Sears Hometown Stores from coast-to-coast will be shutting their doors.”
In December, Sears Hometown and Outlet Stores Inc. announced it would be closing all store locations across the country and filed for Chapter 11 bankruptcy.
Durango Sears Hometown Store owner Bob Oborne, of La Junta, confirmed Sears is closing. The store will be in business until all the inventory is sold.
Sears Hometown and Outlet Stores Inc. is a separate corporation than Sears Holdings Corp., and because the Durango store is part of a franchise, each store is individually owned.
Liquidation of store inventory was announced on Dec. 26 in a company news release saying substantial discounts would be offered and stated that two Colorado stores would be participating but did not specify the locations.
The store wind-downs are being managed by joint-venture partners Tiger Capital Group, SB360 Capital Partners and B. Riley Retail Solutions.
“Shoppers who acquire higher-ticket items such as riding lawn mowers or home appliances will still be able to protect those investments by purchasing an additional, third-party warranty,” said Billy Nichols, senior vice president of B. Riley Retail Solutions in the Dec. 26 news release. “While the joint venture partners are managing the sales, local Sears Hometown dealers and associates will be on hand to provide advice and answer any questions consumers might have.”
The advertisement shows that products will be sold for up to 70% off the ticketed price, according to the Sears Hometown Store’s website.
Sears Hometown Store closing comes two years after J.C. Penney went out of business at the Durango Mall.
With Sears on its way, it will add to another lost mall tenant. Over the last decade, the mall has lost stores such as Sports Authority, Bath & Body Works and General Nutrition Centers (GNC).