Sears Will Close Store In Bangor
BANGOR, Maine (AP) — Sears has announced it will close its store in Bangor, Maine.
The Bangor Daily News reports Sears Holdings announced Thursday it's closing its location in the Bangor Mall in April. The move comes as the retailer closes more than 100 Sears and Kmart nationwide.
The decision leaves the Bangor Mall with two anchor stores; JC Penney and Dick's Sporting Goods. Macy's closed last year.
The mall was valued at $128 million in 2007. According to data company Trepp, the Bangor Mall's value fell to $28.9 million in Oct. 2017. The mall's owner, Simon Property Group, defaulted on an $80 million loan levied as collateral against the mall.
(Information from: Bangor Daily News, http://www.bangordailynews.com)