Sears Holdings says they're closing more than 100 Sears and Kmart stores thanks to poor holiday sales. That leaves some Illinoisans wondering whether the state got duped into giving the company a major tax break to keep jobs in the state. David Vite, with the Illinois Retail Merchants Association, says the store closures have nothing to do with the recent tax deal.
Vite says it's important to remember that the 100 store closures will likely be spread across the nation, not just in Illinois. Plus, he says Sears has to live up to its end of the bargain before receiving any money from the state. The company is required to invest more than 300-million dollars into its corporate headquarters in order to get the 150-million from the state. David Vite, with the Illinois Retail Merchants Association, says the store closures don't put the state at risk.