FILE - This Oct. 15, 2018 file photo shows a sign for a Sears Outlet department store is displayed in Norristown, Pa. Multiple media outlets reported early Wednesday, Jan. 16, 2019, that billionaire Eddie Lampert has won a bankruptcy auction after strengthening his bid in several days of negotiations with creditors. Lampert, Sears’ chairman and largest shareholder, upped his offer to more than $5 billion and added a $120 million cash deposit through an affiliate of his ESL hedge fund. (AP Photo/Matt Rourke, File)
HOFFMAN ESTATES, Ill. — Sears has told the state of Illinois it's laying off 250 employees at its corporate headquarters in the Chicago suburb of Hoffman Estates.
Sears said in a notice last week to the Illinois Department of Commerce and Economic Opportunity that the employees have been placed on paid leave and their jobs will be terminated over a 14-day period starting about Oct. 28.
Company spokesman Larry Costello says the affected employees were placed on paid leave last week.
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Sears was once the largest retailer in the country but filed for Chapter 11 bankruptcy last October. In February, Transform Holdco, controlled by former Sears chairman Edward Lampert , bought the retailer and 425 stores in a bankruptcy auction.