The Associated Press May 9, 2011, 4:34PM ET

Sears researching possible move from Illinois

Sears Holdings Corp. is researching a possible move outside the state of Illinois.

Sears spokesman Chris Brathwaite said Monday that the retailer has had preliminary discussions with the Chicago suburb of Hoffman Estates, where it is located. Sears also has comissioned an economic impact study. The Daily Herald newspaper reports state and local incentives that Sears receives will expire in 2012.

Brathwaite says the company owes it to its associates and shareholders to "consider options and alternatives." He says the company has made "no decisions at this point" and is being "very thoughtful and thorough."

Hoffman Estates Mayor William McLeod says he will do his utmost to keeps the thousands of Sears jobs in his community.

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