Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Bridgeton Kmart to close * Sears Holdings announced another round of store closings on Thursday, and the casualties include a Kmart in Bridgeton.

The store, situated at 11978 St. Charles Rock Road, is among 68 Kmarts that will be shuttered nationwide, most by the end of July.

In addition, 10 Sears stores none in the St. Louis area will close, also in July, the company said.

The Bridgeton Kmart is one of several big retailers at Hilltop Plaza, a shopping center that also includes a Lowe's, PetSmart and Sports Authority. The Sports Authority was among three identified locally last month as potential candidates for closing.

Liquidation sales at the Kmart stores begin on May 12. At Sears, they start on April 29.

Hoffman Estates, Ill.-based Sears Holdings announced in February it would accelerate the closing of unprofitable stores. At the end of January, Sears Holding had 1,672 stores.

According to the retailer's website, the closing will leave only seven Kmart stores in the immediate St. Louis area: two in St. Louis, and one each in Alton, Belleville, Crystal City, Florissant and Granite City.

In 2011, the chain had more than a dozen stores in the area, according to Post-Dispatch files.

Aeropostale eyes bankruptcy * Aeropostale Inc., the teen- clothing chain that has suffered years of losses, is preparing to file for bankruptcy as soon as this month, according to people familiar with the matter.

The company is looking to reorganize under Chapter 11, said the people, who declined to be identified because the matter isn't public. Aeropostale is trying to work out a loan to finance its operations during the bankruptcy process, according to the people. A deal to avert a filing or find a buyer also could still emerge, they said.

Aeropostale's trip to bankruptcy court would follow three straight years of losses and a feud with its main lender, Sycamore Partners, which also owns a key clothing supplier. The New York- based retailer has struggled to hang on to teen consumers, who have shifted to online shopping or chains like H&M. …

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