Wellsville Kmart closing in March

Sears facing liquidation says it will close 80 more stores

The accompanying Sears Auto Centers will also be shut.

Locations in Richardson and Plano will close in late March 2019, the company announced.

The company says it has announced the latest round of closings as part of a financial restructuring.

Earlier this month, Lampert, who has controlled Sears for more than a decade, made a preliminary bid that included hedge fund Cyrus Capital Partners.

Once the nation's biggest retailer, Sears was also its first "everything store", stocking items from jewelry to clothing, from hardware to prefabricated homes.

If Lampert does submit a bid, Sears's advisers have until January 4 to decide if he's a "qualified bidder".

Lampert had a plan to save Sears by combining it with Kmart, which ESL bought out of bankruptcy after the discount store's 2002 bankruptcy filing. Liquidation sales at the stores are expected to begin in two weeks.

Sears Chairman Edward Lampert earlier advanced a $4.6 billion proposal to buy the company out of bankruptcy through his hedge fund, but he hasn't officially submitted a bid.

Sears' creditors have been investigating whether ESL acquired Sears valuable assets through an unfair competitive advantage.

Sears filed for bankruptcy on October 15.

Lampert proposed to put in relatively little additional cash of his own as part of his planned bid, instead offering to forgive some of the money he is owed and then having the new version of Sears borrow money.

Minnesota stores include the three-level location at the Mall of America, which was not originally on the list of stores closing.

The iconic American retailer and employer of 68,000 people, founded 125 years ago, is seeking a bidder to buy it out of Chapter 11 bankruptcy by a 4 p.m. EST deadline Friday.

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