Goodbye, Sears; Fairbanks-area department store to close early next year

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FAIRBANKS, Alaska (KTUU) - The newest casualty in the so-called "retailpocalypse" is the sole Sears location in Fairbanks, which will close down in February of 2019.

With many retail chains feeling the pain of increased automation and online sales, brick and mortar stores as well as the retailers themselves have announced closings, and with them, mass layoffs.

Sears recently shut down its Anchorage department store from what's now called The Midtown Mall, but was previously referred to as The Mall At Sears.

In Fairbanks, Sears Holding announced 40 stores would be closing, including the location on Airport Way in Fairbanks.

The Fairbanks store joins a list of 142 closed down Sears and Kmart locations which were deemed unprofitable and shut down, in order for the company to survive in the process of Chapter 11 bankruptcy.

Sears is expected to retain less than 500 stores after the recent culling, which could see even more of a trim with Sears estimating just 400 stores could be profitable on their own.

The Sears department store in Wasilla remains open.

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