Some malls in the United States have provisions that the tenants have to follow. One of them is prohibiting a tenant or department store from having a going out of business sale. They do this because they feel those sales affect the business of the neighboring retailers. I worked at Emporium Department Stores in the 1990's. When they clised locations after the Macy's buyout they ran into this. The merchandise in those stores where they could not have a sale was transported to another location where they were allowed to hold a liquidation sale. As for Sears it looks dim with only a handful of stores left. The rest could also be closed at any time. Transformco has a website where they have every Sears and Kmart location listed for sale or lease. When all the stores are gone all they will have left are online websites. The websites, names of Sears and Kmart as well as the intellectual property rights could be sold at any time. Lambert and Transformco are only in it for the value of the real estate. All other assets were raided and sold.
You pretty much summed it up exactly how I’ve been saying it for a long time. It’s all about the physical real estate of the buildings. It’s not about how much merchandise is in the build. It’s how much can they subdivide and how much can they profit all from the real estate of the anchor building connected to the existing mall.
@@Chris.Cronin101 A lot of retail stores now operate under a long term lease. Sears and Kmart used to own the land and buildings their stores operated in. Even the Sears stores that were attached to a regional mall were also owned by them and not the mall. Macys also owns the stores they operate in. Now they want to raid the real estate from them too.
What was the Rationale for Sears Canada on the other hand shutting down entirely? As Far as we know Sears Canada currently has a couple offices somewhere in Toronto. The Sears Canada Name, Website and Intellectual Property Rights has not been bought out yet so Sears Canada is sadly still gone The Abrupt And Immediate Closure of this Sears at the Gardens Mall this March also reminded me of when Fry's Electronics shut down entirely with out warning back in February 2021
We Wish the Sears Canada and Fry's Electronics names, websites and intellectual property rights was also sold to a buyer and/or group that knows retail and especially headlines as well
The Abrupt And Immediate Closure of this Sears at the Gardens Mall this March also reminded me of when Fry's Electronics shut down entirely with out warning back in February 2021
This Is Why every item at every single store And Even online must be sold since closure without notice, inventory disappearing and retailers running out of stock and not ever restocking in store again are showing signs
Some leaked Macys closings are beginning to come out. Livingston NJ and Hampton NY are on the list. (And Altoona PA and Exton PA). These are UNCONFIRMED but extremely likely. The only two CONFIRMED are San Francisco and Vernon Hills, IL.
Some malls in the United States have provisions that the tenants have to follow. One of them is prohibiting a tenant or department store from having a going out of business sale. They do this because they feel those sales affect the business of the neighboring retailers. I worked at Emporium Department Stores in the 1990's. When they clised locations after the Macy's buyout they ran into this. The merchandise in those stores where they could not have a sale was transported to another location where they were allowed to hold a liquidation sale.
As for Sears it looks dim with only a handful of stores left. The rest could also be closed at any time. Transformco has a website where they have every Sears and Kmart location listed for sale or lease. When all the stores are gone all they will have left are online websites. The websites, names of Sears and Kmart as well as the intellectual property rights could be sold at any time. Lambert and Transformco are only in it for the value of the real estate. All other assets were raided and sold.
You pretty much summed it up exactly how I’ve been saying it for a long time. It’s all about the physical real estate of the buildings. It’s not about how much merchandise is in the build. It’s how much can they subdivide and how much can they profit all from the real estate of the anchor building connected to the existing mall.
@@Chris.Cronin101 A lot of retail stores now operate under a long term lease. Sears and Kmart used to own the land and buildings their stores operated in. Even the Sears stores that were attached to a regional mall were also owned by them and not the mall. Macys also owns the stores they operate in. Now they want to raid the real estate from them too.
What was the Rationale for Sears Canada on the other hand shutting down entirely?
As Far as we know Sears Canada currently has a couple offices somewhere in Toronto. The Sears Canada Name, Website and Intellectual Property Rights has not been bought out yet so Sears Canada is sadly still gone
The Abrupt And Immediate Closure of this Sears at the Gardens Mall this March also reminded me of when Fry's Electronics shut down entirely with out warning back in February 2021
We Wish the Sears Canada and Fry's Electronics names, websites and intellectual property rights was also sold to a buyer and/or group that knows retail and especially headlines as well
The Abrupt And Immediate Closure of this Sears at the Gardens Mall this March also reminded me of when Fry's Electronics shut down entirely with out warning back in February 2021
This Is Why every item at every single store And Even online must be sold since closure without notice, inventory disappearing and retailers running out of stock and not ever restocking in store again are showing signs
Wow. Not even a 1 day notice. Smh.
Breaking News: TransformCo Permanently Closed Sears at The Gardens Mall in Palm Beach Gardens, FL
Breaking News: TransformCo Permanently Closed Sears at The Gardens Mall in Palm Beach Gardens, FL
Some leaked Macys closings are beginning to come out.
Livingston NJ and Hampton NY are on the list. (And Altoona PA and Exton PA).
These are UNCONFIRMED but extremely likely. The only two CONFIRMED are San Francisco and Vernon Hills, IL.
Ghoul Lampert strikes again.
I blame you for not buying the name or assets , totally your fault