Closing of 27 Kmart, Sears Stores Follows News of Macy's Cutbacks

[civil42806]

Here's a partial list. Lutz, Lake Park and Daytona are on the Kmart closing list.

http://www.cbsnews.com/news/are-your-local-sears-and-kmart-stores-closing/

Thats a squirrley list.Its lists a k-mart in mobile al and a K-mart in Bel Air, Al closing this year (No such place as Bel Air, al).  Its actually the Bel Air Mall in Mobile, al.   The link to Bel Air, al  and the Mobile, al link to the same AL.com new article l That store (Sears)  closed last year around August   Think I would take the list with a grain of salt, trust but verify.

[thelakelander]

I do know that the Daytona Kmart is closing. There was a huge "closing" banner on the store when I was down there last week.

[I-10east]

Sears to close 68 Kmarts, two in the Jax area.

http://www.news4jax.com/news/sears-to-close-68-kmart-10-sears-stores-this-summer

[thelakelander]

Not surprising. Will Jax have any Kmarts left?

[Gators312]

It looks like the Regency Square Sears is closing too. 

http://www.usatoday.com/story/money/business/2016/04/21/list-sears-kmart-stores-closing-across-us/83356912/


Florida

Sears / 9501 Arlington Expy., Jacksonville
Kmart / 9600 San Jose Blvd., Jacksonville
Kmart / 500 Atlantic Blvd, Neptune Beach
Kmart / 1809 Byron Butler Parkway, Perry

[thelakelander]

Another punch in the gut for Regency.

[FSBA]

Was the K-Mart on Normandy already scheduled to close?

[CoastalJax]

Bad timing for Regency just as they were at least starting to get on the right track.

The Kmart on San Jose is way overdue for closing, it's pretty bad on the inside. That would be a pretty great location for anything that wants to come in there. A grocer might work well, one that appeals to a different demographic than the Save a Lot across the street. Maybe Walmart, although they have a location further down SJ.

I just don't want to see it sit vacant. That's (marginally) even worse than being a decaying Kmart.

[fsujax]

Was the K-Mart on Normandy already scheduled to close?

the Normandy store will be the last remaining Kmart in Jacksonville.

[vicupstate]

Sears warns of 'going concern' doubts

http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social

[TimmyB]

Sears warns of 'going concern' doubts

http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social

The city where I live has only one major mall.  We just lost our Macy's and JC Penney in the past three months.  If Sears goes belly-up, we'll have a mall with ZERO anchors.  At least the movie theater is still surviving.  Crazy times.

[spuwho]

Sears warns of 'going concern' doubts

http://www.reuters.com/article/us-sears-going-concern-idUSKBN16S2WG?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social

Basically saying they are running out of assets to raise liquidity. The federal pension board is putting liens on the asset sales to make sure future profits will continue to support retirees.

This is reducing the value of Kenmore and DieHard brands. No one wants to prop up a pension with a product that is in a price sensitive market that has nothing to do with them.

The exodus in the Sears c-suite is growing. CEO Lampert's video conference yell fests are now legendary. No one is allowed to share "bad news". He still expects Sears to become a data powerhouse like Amazon, which baffles people.

Many think he already knows Sears fate and is putting up a good show to avoid a fiduciary lawsuit while he walks away with the real estate through his REIT.

No matter how you look at it, Sears will probably not make it to Christmas, they wont be able to finance it.

[Gunnar]

That would be sad - I've always enjoyed shopping at Sears.