CHICAGO — Sears, Roebuck and Co. said today it will move its 6,000-employee merchandise group to the suburb of Hoffman Estates from the 110-story Sears Tower in downtown Chicago.
Sears announced last year that it would sell the tower, the world's tallest building, as part of a restructuring program undertaken after the slumping company became the target of takeover rumors.
Since then, the world's No. 1 retailer has scouted a variety of potential new sites for its merchandise group, including several in the Sun Belt, before deciding to remain in the Chicago area, its home since shortly after it was founded 103 years ago.
Sears said it will not begin moving its employees for at least 2 1/2 years, giving the company additional time to find a buyer for the headquarters building.