Liquidation sales at the Kmart and Sears stores are expected to begin by mid-January, the company reported.
Earlier on Friday, Sears announced it was closing 80 more stores.More news: Miami vs. Wisconsin Pinstripe Bowl Highlights (2018)
Sears Holdings, the parent company of Sears and Kmart, announced Friday that 80 total stores will close, including the Sears at Park City Center in Lancaster.
Sears filed for bankruptcy on October 15 when it had a $134 million payment it could not meet.
Sears Holdings Corp Chairman Eddie Lampert submitted a $4.4 billion takeover bid for the bankrupt US retailer, representing its only chance of escaping liquidation and laying off tens of thousands of workers, a spokesman for the billionaire's hedge fund said on Friday.More news: EPA takes aim at Obama-era regulation of mercury at coal plants
The Charlottesville Sears store is among those listed to close on MarketWatch. The offer is viewed as one of the only options that would prevent the 125-year-old department store from going out of business. Sears expects to reinstate severance plans for employees who stay and would maintain guarantees to customers on appliances, televisions, lawn tractors and other big-ticket products.
So far, the Sears inside the Mall of Victor Valley is cleared and the company has made no announcement to shutter its doors.
Lampert proposed putting in relatively little additional cash 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. That's in addition to the previously shutdown of 40 unprofitable stores expected to be completed in February.More news: Nelson Cruz Agrees To Deal With Twins - Minnesota Twins
Lampert, who engineered a $12.3 billion acquisition of Sears by Kmart in 2005, held about $2.5 billion in Sears debt as of September, the result of multiple attempts to keep the chain afloat.