The Decline of Kmart...What Happened?



Kmart

SearsSears is closing and selling stores. Real Insight Marketplace

  • is closing at least 40 stores, including 31 Sears stores and nine stores.
  • The closing stores span 24 states including Arizona, California, Florida, Missouri, Ohio, and Minnesota.
  • Most of the stores will close in July and August.
  • Sears has cut its store count in half in the last five years.

Sears is quietly closing at least 40 stores in 24 states, in addition to the 166 stores that the company previously said it would close this year.

Most of the stores on the new list will close in July and August.

Sears has not publicly announced many of the store closings slated for this summer. Business Insider confirmed the list of closing stores based on information from multiple Sears employees and local news reports.

Sears spokesman Howard Riefs told Business Insider last month that some employees at closing stores would be eligible for severance.

"Those associates that are eligible will receive severance and have the opportunity to apply for open positions at area Sears or Kmart stores," he said.

Sears has cut its store count in half within the last five years. The company had 1,002 stores as of early February, down from 1,980 stores in 2013. It closed another 103 stores in April, in addition to the 40 stores that will close by August.

Here's the list of closing stores:

Sears

  • Park Mall, 5950 E Broadway Blvd. Tucson, Arizona
  • Sunrise Mall, 5900 Sunrise Blvd., Citrus Heights, California
  • Westfield Galleria at Roseville, 1191 Galleria Blvd., Roseville, California
  • Solano Town Center, 1420 Travis Blvd., Fairfield, California
  • Parkway Plaza, 575 Fletcher Parkway, El Cajon, California
  • University Mall, 7171 N Davis Hwy, Pensacola, Florida
  • Countryside Mall, 27001 Us 19 N, Clearwater, Florida
  • Oaks Mall, 6201 W Newberry Rd, Gainesville, Florida
  • Broward Mall, 8000 W Broward Blvd, Plantation, Florida
  • Sears Town Mall, 3550 S Washington Ave, Titusville, Florida
  • North Point Mall, 6000 North Point Cir, Alpharetta, Georgia
  • Marketplace at Six Corners, 4730 W Irving Park Road, Chicago, Illinois
  • Quincy Mall, 3400 Quincy Mall, Quincy, Illinois
  • Lindale Mall, 4600 First Ave. NE, Cedar Rapids, Iowa
  • Towne Mall, 1704 N Towne Dr, Elizabethtown, Kentucky
  • Columbia Mall, 2201 W Worley St, Columbia, Missouri
  • Maplewood Mall, 3001 White Bear AVE N, Maplewood, Minnesota
  • Meadowood Mall, 5400 Meadowood Mall Circle, Reno, Nevada
  • Greece Ridge Center, 317 Greece Ridge Center Dr, Rochester, New York
  • Summit Park Mall, 6929 Williams Rd, Niagara Falls, New York
  • Independence Mall, 3500 Oleander Drive, Wilmington, North Carolina
  • Asheville Mall, 1 S Tunnel Road, Asheville, North Carolina
  • Southern Park Mall, 7401 Market St., Youngstown, Ohio
  • Johnstown Galleria, 540 Galleria Drive, Johnstown, Pennsylvania
  • Wyoming Valley Mall, 88 Wyoming Valley Mall, Wilkes-Barre, Pennsylvania
  • York Galleria, 2899 Whiteford Rd., York Pennsylvania
  • Citadel Mall, 2068 Sam Wittenberg Blvd., Charleston South Carolina
  • Park North Shopping Center, 622 NW Loop 410, San Antonio, Texas
  • Danville Mall, 325 Piedmont Dr, Danville, VA 24540
  • Warrenton Village Center, 141 W Lee Hwy, Warrenton, Virginia
  • Overlake Fashion Plaza, 2200 148th Ave NE, Redmond, Washington

Kmart

  • 1602 W Brandon Blvd., Brandon, Florida
  • 180 Main St., Saugus, Massachusetts
  • 74-5456 Kamakaeha Ave, Kailua-Kona, Hawaii
  • 1813 Caldwell Blvd., Nampa, Idaho
  • 180 Main St., Saugus, Massachusetts
  • 180 Broadway, Elmwood Park, New Jersey
  • 970 Easton Ave #7235, Somerset, New Jersey
  • 321 Stadium Plaza, Jersey City, New Jersey
  • 19 Kocher Drive, Bennington, Vermont
  • 750 N 3rd St, Laramie, Wyoming

In addition to closing stores, the company is selling a handful of other locations online through a partnership with Cushman & Wakefield, a real-estate services company.

Sears is selling these stores in an online auction.

The properties are advertised as sale-and-leaseback deals, meaning Sears would make rent payments to the winning bidders to remain in the space.






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Date: 14.12.2018, 08:45 / Views: 65163