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Author Topic: Sears closing 20 more US stores  (Read 331 times)
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retailisking
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« on: June 22, 2017, 03:48:08 PM »

http://www.businessinsider.com/sears-is-closing-more-stores-2017-6
« Last Edit: June 22, 2017, 04:45:36 PM by retailisking » Logged
buzz86us
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« Reply #1 on: June 22, 2017, 04:08:09 PM »

wow the Sears in Colonie Center is going out of business? Soon the only Sears left in the Albany area is going to be the one in Wilton Mall in Saratoga... with Whole Foods sub-renting the space makes me wonder if Amazon.com is just going to buy the rest of it
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Brammy
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« Reply #2 on: June 23, 2017, 05:34:48 AM »

Glad to see Connecticut locations are safe for now, after 3 closures at the beginning of the year (West Hartford and Enfield Sears and Cromwell KMART).

Oh and a friend of mine who lives in Houston says he's not surprised by the Houston location that's on the list. He says it's a really bad area.
« Last Edit: June 23, 2017, 05:43:50 AM by Brammy » Logged

Brammy
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« Reply #3 on: June 23, 2017, 08:52:59 AM »

The one in Toledo is near the Franklin Park Mall.  My daughter lived in that
neighborhood until recently.
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BillyGr
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« Reply #4 on: June 23, 2017, 09:49:17 AM »

wow the Sears in Colonie Center is going out of business? Soon the only Sears left in the Albany area is going to be the one in Wilton Mall in Saratoga... with Whole Foods sub-renting the space makes me wonder if Amazon.com is just going to buy the rest of it

Actually Sears (the store chain) doesn't own the space any longer - they sold it to a real estate group (which is, apparently, somehow connected to the guy in charge) and were leasing it back from that group.

One of those ideas to get the company short term funds (from the sale) that winds up being more costly in the long run (either to pay the lease or in this case closing the store, which may have stayed if they still had ownership with the lower cost of operations being OK with lower sales).
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buzz86us
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« Reply #5 on: July 03, 2017, 07:55:29 PM »

yes Eddie Lampert is pulling a scheme similar to Vornodo Realty Trust, who still lease out former two guys buildings til this day..
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