Illinois crony capitalism failure: Sears to close 78 stores

Five years ago three Chicago Democrats, Governor Pat Quinn, House Speaker Michael Madigan, and Senate President John Cullerton, forced into law a $325 million tax break to keep Sears Holdings to keep the ailing retailer from moving its headquarters from Illinois.

Sears Holdings owns Kmart and Sears.

Since then Sears has laid off thousands of workers and closed dozens of stores.

Illinois rewards failure so it should be no surprise that it is suffering from negative population growth.

Last fall Mitsubishi Motors closed its downstate plant after receiving similar incentives to stay in the Prairie State.

This afternoon news broke that Sears Holding is closing 78 stores.

It's gotten so bad for the onetime retail king that four classic-era Sears stores were named on Preservation Chicago's 2016 list of Most Endangered Buildings last month. Even the architecture nerds can smell the death of Sears. Too bad Illinois politicians didn't notice in 2011. And too bad Sears hasn't focused on making money and offering reasons for consumers to shop with them instead of gaming the system in Illinois.