K-Mart

[shore72]

I ran a small business & at one point our largest customer went Chapter 7. They had always been very prompt with payments & the only warning was that we didn't receive any checks for about 2 weeks prior. (They insisted on paying each invoice in 30 days rather than the usual procedure of having us mail a statement and paying once a month.) As they were winding down operations they still needed our services a couple times; it was COD, of course, and we did it even though they owed us about $10k at the time with no guarantee we'd ever see a penny. We did it because, well, a dollar is a dollar and they were always good to deal with. Eventually we got about 65 cents on the dollar. I had another big customer who never went under but had some shaky times. At one point they had some unpaid invoices that were 120 days old, with nothing but excuses, yet I still kept taking on new jobs from them. Was I a total fool? Well, I was a small business in a small town, desperate for work, and eventually I got paid for what I did.

There are a lot of businesses out there that aren't nearly as healthy as they look on the outside. The last time I was in Kmart I bought a box of crackers, made by a company in the midwest that I'd never heard of. Why would they sell to Kmart? Well, who else? There are only so many retailers out there these days. So, maybe one day Sears Holdings doesn't pay, but for now they do and maybe they always will, somehow. Gotta keep those production lines rolling, somehow, someway.

[TheFugitive]

Regarding that Midwest cracker company, selling to a Sears Holdings where future payments are
somewhat questionable may be a better option for them than selling to Walmart where their
Gestapo buying tactics have put more than one small business out of business.

They get you salivating over the huge potential orders.  So you gear up by hiring people and investing in new equipment.  Once you've made that capital investment they've got you.  "We paid $2.14 per unit on the last invoice?  Well we're only going to pay you $1.78 on the next one.  Take it or leave it."

In the town where I lived in Michigan they put one of the major local employers into bankruptcy
with those tactics.

Sears I think will at least agree to a reasonable wholesale price, regardless of how long it takes to pay.

[shore72]

I've read that Sears was like that, long ago...perhaps they invented it! There were apparently some firms that collapsed because of it. These days, of course, Sears has no such leverage and probably has to take what it can get!

[BillyGr]

I've read that Sears was like that, long ago...perhaps they invented it! There were apparently some firms that collapsed because of it. These days, of course, Sears has no such leverage and probably has to take what it can get!

Not even that long ago, up into the 1970's they still had companies where the majority (if not all) of their sales were items going to Sears.  When they had trouble around the later 1970's, companies started to diversify or just closed up if they couldn't find others to buy their products that Sears either no longer wanted to carry or didn't sell enough of to make it profitable to produce them.

[danfifepsu]

Sears Holding will file for bankruptcy

[danfifepsu]

the list and many Kmarts closing on it including Madawaska Maine, the last 2 in Georgia, last 2 in Kansas, last 1 in Arkansas and some markets losing the last and like 250 left after this wave. here is the list: https://www.usatoday.com/story/money/2018/10/15/sears-holdings-bankruptcy-store-closures/1645971002/

[MikeinBuffalo]

the list and many Kmarts closing on it including Madawaska Maine, the last 2 in Georgia, last 2 in Kansas, last 1 in Arkansas and some markets losing the last and like 250 left after this wave. here is the list: https://www.usatoday.com/story/money/2018/10/15/sears-holdings-bankruptcy-store-closures/1645971002/

My area is down to one, old 70s Kmart now that the West Seneca (Late 80s) location is going under

[TheFugitive]

After this wave there are really no more left anyplace that I'm willing to drive to.

Kmart goes on the pile with Ames and Hills for me.

[danfifepsu]

After this wave there are really no more left anyplace that I'm willing to drive to.

Kmart goes on the pile with Ames and Hills for me.

a lot of bigger markets in states lost Kmart, I feel they couldnt handle the competition. with 8 states Kmart less as of come the end of the year, Kmart is getting to be more of a regional. and Meijer may  over take Kmart in number of stores after this wave.
This could be Kmart's "Last Christmas" (A song was named Last Christmas too).

[danfifepsu]

Kmart in West Lebanon. I saw a customer so disatisfied with service that he said no wonder Kmart is going out of business. Kmart's cash registers are outdated too.

[danfifepsu]

another existing Kmart could be booted out: https://www.news5cleveland.com/news/local-news/oh-cuyahoga/former-kmart-could-be-the-home-of-a-new-meijer-store-in-seven-hills and w one in Middleburgh Heights closing could make about no stores left around Cleveland, one of their major markets. OK with that and many states lost stores in major markets w stores only in smaller cities, dont ya think Kmart should just close its doors already? their stores are in bad shape and feel outdated.
I bet the parent company will have a disastrous Xmas Season and the creditors then will push for liquidation.

[jason83080]

I looked at the blueprints and compared it to a Google Maps view of the area, and Meijer will swallow up the existing former Arby's restaurant (which is where the planned new entrance will be, as well as the gas station area) and the BluSonic Car Wash plus empty plot of land next to it (for added parking - the building area will extend into the current Kmart parking lot, if you compare the lined spaces in the lot above to where the building is now, which takes away some of the existing parking - and a second entrance). I don't know how those people in the developments behind Kmart will like having a thriving Meijer in their backyard - the added traffic and increased noise will surely detract from their property values, though I can't say what having a nearly-vacant rundown-though-still-active Kmart does to them - but, I don't live around there, so I don't get a vote.

Odd that they targeted the one remaining Kmart in the market, though. Does Meijer actually own all of the Kmart leases now?

Also, the former Brooklyn, Ohio Super Kmart location space - once rumored to have been purchased by Costco - is actually going to be home to the area's new Menards store!

[Retail Fan+ (Justin Hill)]

Some pictures of Kmart in the Atlanta, Georgia area in the mid-1960s.


Kmart - 2174/2176 Donald Lee Hollowell Parkway (formerly 4070 Bankhead Highway), Atlanta, Georgia (March 1964)



Kmart - Marietta, Georgia (May 1964)



Kmart (Kmart Plaza) - Cleveland Avenue SW, Atlanta, Georgia (November 1964)








Kmart Auto Service Center - 5925 Roswell Road, Atlanta, Georgia (July 1966)


Kmart - 5925 Roswell Road, Atlanta, Georgia (July 1966)







Source: The Atlanta Journal-Constitution
https://www.ajc.com/business/big-retailer-and-walmart-rival-closing-its-last-georgia-stores/DLzjdgV6WjLTaJGHSgEZfI/?fbclid=IwAR25Sv_Db_XOvCMq8T1Z9Jrx6f680_vvJExSo6-PZ_2W_etpuQdmTvP98zg#1

[scottw73]

Boy have times changed, notice how the women are in dresses and the men are wearing suits, the cashiers are women too. The atmosphere in retail today is a lot more casual, both customer and employee.

[Retail Fan+ (Justin Hill)]

I just love that neon shield sign Kmart used back then.
The signs used by businesses today lack the kind of character that the neon/flashing bulb signs of the 1950s and 1960s had back then. Reminds me of Las Vegas.
At least a few McDonald's and Arby's franchises are keeping their vintage neon signs operating.
There's one McDonald's '50s neon sign and two Arby's neon signs located in my area.

Most large Kmart stores had their own supermarkets as well back in the 1960s until the 1970s.
Kmart was ahead of their time back then when it came to selling groceries alongside general merchandise.
The concept of selling food in their stores would be revived in their American Fare hypermarkets and Super Kmart supercenters 20-30 years later.

[TheFugitive]

ahh, that Mad Men world into which I was born.
Thanks for posting these!

[AmesNewington]

The interior of this Kmart pictured above from 1966 resembles what many Kmarts look like now minus the signage and merchandise. Crazy how they never overhauled their stores in appearance.

[Retail Fan+ (Justin Hill)]

Some Kmart stores were acquired from Thrift City in 1964, which explains the neon shield signs on some Georgia locations. Thrift City operated in those locations for many years until S.S. Kresge converted them to Kmart/Kfood stores.

[danfifepsu]

Last Night I had a dream about all the Kmarts closing.

[danfifepsu]

https://www.usatoday.com/story/money/2018/11/08/kmart-sears-store-closing-list/1933522002/ KMART IN WATERVILLE ME IS CLOSING , MORE ARE CLOSING.

[busman_49]

the list and many Kmarts closing on it including Madawaska Maine, the last 2 in Georgia, last 2 in Kansas, last 1 in Arkansas and some markets losing the last and like 250 left after this wave. here is the list: https://www.usatoday.com/story/money/2018/10/15/sears-holdings-bankruptcy-store-closures/1645971002/

Does anyone know when these stores are set to close?

[giantsfan2016]

Does anyone know when these stores are set to close?

The ones announced on October 15th are supposed to close by the end of 2018. The ones announced on November 8th by the end of February 2019.

[danfifepsu]

Does anyone know when these stores are set to close?

The ones announced on October 15th are supposed to close by the end of 2018. The ones announced on November 8th by the end of February 2019.

Another WAve soon too? and I read that Illinois will have THREE KMARTS left after this, and the last 1 in Chicago limits is closing. that is pathetic as that was a state where it had some of its first stores. I stopped caring about if Kmart closes 3 to 4 years ago due to stuff like this. like 2 or 3 in every state now. 8 none at all after Christmas. They may not make it to the first day of Summer. What of Guam? As thats their most profitable.

[EddieJ1984]

https://www.flickr.com/photos/eddiej1984/sets/72157703301974044

Here is a couple of pics I took of the last Kmart in Philadelphia a couple of weeks ago, figured I would get pics of it before it would be on a closing list, used to be in walking distance of it.

[AmesNewington]

I went with my parents to the Vernon, CT Kmart today.

The store itself was VERY busy. Started off a bit slow, but by the time we were in there for an hour, you couldn't even navigate the Christmas aisles. I believe Kmart could have been the saving grace of Sears if they did things right. Kmart is more appealing to cost minded shoppers and you can get more everyday items there that Sears doesn't have, although prices have went up slightly on food and health items. I'm noticing less and less of their private label brand (Smart Sense), which is disappointing. I actually saw Essential Everyday branded trash bags there (from Supervalu). They are probably trying to shift focus on to their clothing, housewares, toys and seasonal departments.

Enough cashiers on today too. About 6 or 7 registers open of 9 at its peak. Customers were actually for the most part cordial and had manners too. Something the Cromwell store didn't really have.

[jaredski09]

U-Haul’s real estate company, Amerco Real Estate Company, announced on Nov 30 that they will be purchasing 13 current/former Sears/Kmart sites for $62 million and will eventually transform them into U-Haul Moving Centers (pending bankruptcy court approval). U-Haul has already converted 9 vacant Kmarts this year into U-Haul sites. Here are the locations they just bought:

3115 Airport Way, Fairbanks, AK (Sears)
308 Dix Ave., Queensbury, NY (Kmart)
2875 Santa Maria Way, Santa Maria, CA (Kmart)
4110 E. Sprague Ave., Spokane, WA (Kmart)
5909 E. State St., Rockford, IL (Kmart)
20777 Bear Valley Road, Apple Valley, CA (Kmart)
200 Irwin Ave., Fort Walton Beach, FL (Kmart)
1805 E. Stone Drive, Kingsport, TN (Kmart)
3250 Clear Lake Road, Springfield, IL (Kmart)
996 W. View Park Drive, Pittsburgh, PA (Kmart)
1309 N. High St., Fort Atkinson, WI (Kmart)
17850 Frazho Road, Roseville, MI (Kmart)
1705 S. Main St., Roswell, NM (Kmart)

3 of these locations are “dark”, 6 are negative EBITDA, 4 are positive EBITDA (“the purchase price being paid by [Amerco] for the 4 positive EBITDA warrants proceeding with the sale.”)

“The parties have entered three-month occupancy agreements for 10 of the 13 parcels that provide for Sears to pay related real estate taxes and water and sewer charges and allow time for going-out-of-business sales.” (WWD.com)

All of this info came from:
www.sparefoot.com/self-storage/news/7442-u-haul-scoops-13-kmart-sears-stores-62-million
www.wwd.com/fashion-news/fashion-scoops/sears-holdings-corp-inks-real-estate-deal-for-certain-sites-for-62m-leases-retail-kmart-1202918156

[TheFugitive]

996 W. View Park Drive, Pittsburgh, PA (Kmart)

I was just in that store on Saturday.  It was not on any of the prior store closing lists.
A GOB sale had NOT begun.  They're not interested in a Kmart that has already closed?

[danfifepsu]

https://seekingalpha.com/news/3419597-sears-closing-another-80-stores-march?dr=1#email_link VERNON CT Goes!

[AmesNewington]

Liquidation has already began at the Kmart in Vernon, CT. I went today thinking the sale wouldn't begin until next week, but to my shock, the Store Closing sign along with people holding signs at the offramp to the Hartford Turnpike was displayed. The media got it wrong as they said the sales would start in two weeks from the announcement, but it was just one week. The store was super busy. 9 registers and 8 cashiers ringing. This was just the beginning of the sale with low % discounts, but people were buying full carts of everything imaginable. This location didn't have that great of an inventory to begin with, so I got what I could while I was able to, because stock will dwindle quickly I imagine. They are scheduled to close in March, but I'm not sure I'll be back. I hate to say that it would be best for Sears to just go now. At checkout, the register I went to had a card machine that had a broken signature pen, a broken key to look up points, and the system was super slow, as was the card machine. They won't bother to fix anything at their remaining locations even if they stay in business. Very sad what Eddie Lampert did to these two names. He doesn't deserve to keep his company alive. 

[danfifepsu]

Liquidation has already began at the Kmart in Vernon, CT. I went today thinking the sale wouldn't begin until next week, but to my shock, the Store Closing sign along with people holding signs at the offramp to the Hartford Turnpike was displayed. The media got it wrong as they said the sales would start in two weeks from the announcement, but it was just one week. The store was super busy. 9 registers and 8 cashiers ringing. This was just the beginning of the sale with low % discounts, but people were buying full carts of everything imaginable. This location didn't have that great of an inventory to begin with, so I got what I could while I was able to, because stock will dwindle quickly I imagine. They are scheduled to close in March, but I'm not sure I'll be back. I hate to say that it would be best for Sears to just go now. At checkout, the register I went to had a card machine that had a broken signature pen, a broken key to look up points, and the system was super slow, as was the card machine. They won't bother to fix anything at their remaining locations even if they stay in business. Very sad what Eddie Lampert did to these two names. He doesn't deserve to keep his company alive. 

what went wrong w this store? as its the only store like that in Vernon. and them keeping a smaller and older one in Watertown in Ct. Again its like CT was never a Kmart state.

Where will Kmart be by June ya think?