Sears/Kmart Death Watch 2017

Predicting the demise of Sears & Kmart since 2017!
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Re: Sears/Kmart Death Watch 2017

Post by BatteryMill »

reymann wrote: October 6th, 2017, 7:39 am i think kmart is likely toast after the holidays. i think they will announce liquidation of kmart after the new year and sears will file bankruptcy.
I'm just hoping, no matter what somebody could snag the brand/name during this process and attempt to grow them out. I'm sure there's someone willing to compete against the giants of today.
J-Man wrote: October 9th, 2017, 10:53 am The Kmart in Santa Rosa (CA) burned down this morning. I'd be surprised if they bothered to rebuild or replace it
If it's not closing, they would most likely go through the process of downsizing mentioned below. They might come out with something interesting if they reopen. And yes, some stores have reopened in recent years such as one in Pennsylvania (2012, Hurricane Irene floods), and West Virginia/Kentucky I believe (2017, store isolated with floods) so we'll see.
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Re: Sears/Kmart Death Watch 2017

Post by jamcool »

Meanwhile, Sears Canada is "terminal". Who takes over the store sites?
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Re: Sears/Kmart Death Watch 2017

Post by bm10k »

another 63 stores closing

list of stores https://docs.google.com/viewerng/viewer ... b055f2.pdf
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Re: Sears/Kmart Death Watch 2017

Post by SamSpade »

Ammon, ID - (Idaho Falls). This store was the last KMart in eastern Idaho. The only remaining Sears Holding store will be a Sears in Idaho Falls at Grand Teton Mall, about 1 mile (4 minutes by car) away.

Salt Lake City, UT - This downtown Sears is on valuable real estate. It, along with its parking and auto center, take up an entire city block in the downtown core. The store itself actually kept up really well over the years, despite having no mall or other reason to draw shoppers.

This leaves Ogden (Newgate Mall) and West Jordan (the recently re-set Sears Grand) as the only remaining Sears stores along the Wasatch Front, neither with an auto center.

Fiesta Mall, Mesa, AZ: Is this even a surprise at this point? I wonder why they didn't sell the parcel to the mall's (re)developer.
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Re: Sears/Kmart Death Watch 2017

Post by Super S »

Oregon, Ohio...the last Kmart remaining in the Toledo area. There used to be I think six in the area. Toledo has been hit hard by not only Sears and Kmart closings but also The Andersons ending retail operations earlier this year.
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Re: Sears/Kmart Death Watch 2017

Post by kr.abs.swy »

Given the amount of cash these liquidations generate (I am talking about cash not profit) as millions of dollars of inventory is liquidated, and given how desperately Sears needs cash (multiple loans from Lampert entities just this year), I suspect that a short term need to drive cash flow is behind these closings as much as the long term viability of the stores is. And if that theory is correct, it amounts to burning the house down to stay warm.

I don't doubt that seasonal considerations also played a role ...
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Re: Sears/Kmart Death Watch 2017

Post by wnetmacman »

bm10k wrote: November 2nd, 2017, 2:10 pm another 63 stores closing

list of stores https://docs.google.com/viewerng/viewer ... b055f2.pdf
A few I'm familiar with of note:

Texarkana TX - a Group 7 Kmart from 1980 that was expanded in the early 90's. I stopped in that store last December and it appeared to be doing well. I'm surprised by this, especially since their Sears closed earlier this year. Next closest Kmart is well into Arkansas or south to Lake Charles, LA.
Lufkin and San Angelo, TX - Two smaller market Sears stores; the Lufkin store was just across the street from a Kmart that closed recently itself.
Effingham, IL - an older Group 9 Kmart from 1981 that had never been expanded. When it was built, Kmart was the only real game in town, and retail was just starting to expand out toward Keller Drive, which also houses most of the town's lodging and travel center (read Truck Stop) facilities. Once Walmart built across the interstates (57 and 70 run concurrently through Effingham), the fate was somewhat sealed, though it took 30 years to manifest.
St. Louis, MO - this store was an older, non Kmart built that had several previous occupants, including Venture. A similar store still stands in Metairie, LA, complete with the strange roof design. The Metairie store was previously GEX, and I believe it was built by them.
Ft. Smith and Fayetteville, AR - Sears stores in heavy Walmart home territory. I'm more surprised with Ft. Smith, as it was a much larger store. These mean these folks have to go to Little Rock, Springfield or Tulsa for their nearest Sears store.

Also, many of the Kmarts beyond the ones I named (though not nearly all) are 90's stores; could be a lease ending situation.
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Re: Sears/Kmart Death Watch 2017

Post by TW-Upstate NY »

Moosic Pa is about the only store I'm familiar with on this latest list. It began life as an Arlans way back in the very early 70's and closed with the demise of that chain. K-Mart moved in shortly thereafter and not too long after the recently closed Dickson City K-Mart opened. Don't see any NY state stores of either stripe (K-Mart or Sears) on this list either-find that somewhat surprising. It says the named stores will be closed by late Jan. of next year but I've got a feeling we might be seeing the whole house of cards collapsing by then.
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Re: Sears/Kmart Death Watch 2017

Post by Super S »

TW-Upstate NY wrote: November 3rd, 2017, 8:56 am Moosic Pa is about the only store I'm familiar with on this latest list. It began life as an Arlans way back in the very early 70's and closed with the demise of that chain. K-Mart moved in shortly thereafter and not too long after the recently closed Dickson City K-Mart opened. Don't see any NY state stores of either stripe (K-Mart or Sears) on this list either-find that somewhat surprising. It says the named stores will be closed by late Jan. of next year but I've got a feeling we might be seeing the whole house of cards collapsing by then.
There has been speculation about the end of Kmart/Sears for several years. Possibly a major announcement right after the holidays is coming, similar to what happened with Montgomery Ward.

This year is a little different though with the Craftsman brand sold off, Kenmore and DieHard not as powerful names as they once were, the end of Whirlpool appliances, and other suppliers becoming hesitant to do business with a company that announces waves of closures every few months. Sears doesn't have as much control over what they sell any more.
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Re: Sears/Kmart Death Watch 2017

Post by SamSpade »

wnetmacman wrote: November 3rd, 2017, 8:05 amAlso, many of the Kmarts beyond the ones I named (though not nearly all) are 90's stores; could be a lease ending situation.
I was able to find (weird!) an online database courtesy of the City of Ammon, Idaho that mentions KMart's grand opening in city council minutes from (wait for it...) 1991!
So yes, lease ending there is a strong possibility.

I can't believe that KMart was so "progressive" in 1991. There was hardly any retail out there, unlike today. Unfortunately, stronger operators eventually followed.
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