Sears at Alton Square Closing

HOFFMAN ESTATES, Ill. (AP)- Sears Holdings Corp. has announced plans to close five stores in Illinois, two months after the company got a hefty tax credit for dropping a threat to move its headquarters out of state.

The stores include a Sears in Alton, a Sears Grand/Essentials in McHenry, and Kmarts in Oak Lawn, Zion and Peru.

The Illinois Legislature and Gov. Pat Quinn approved a $150 million tax credit for the Hoffman Estates-based retailer in December after the company threatened to move its headquarters.

Less than two weeks later, the company announced plans to shutter up to 120 Sears and Kmart stores, but no Illinois outlets were on the list at the time.

The company laid off 100 workers at its headquarters outside of Chicago earlier this month.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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