Times Colonist: Sears Canada under investigation for massive dividend payout
To start off the New Year, Sears Holdings just sold-off its Pompano Beach, Florida, store for $11.75-million USD.
The 190-thousand square feet store is, apparently, still operating. There are reports the huge Sears store and Auto Center will be chopped up into smaller retail spaces. It was bought by the owner of the Pompano Citi Centre mall, Sterling Organization (which bought the mall in 2012).
It was also revealed that in 2017 Sears Holdings sold 235 active Sears and Kmart stores to its evil spawn Seritage Growth Properties, for the purpose of ‘redeveloping’ those properties.
Now add at least 103 store shutdown announcements for 2018! 64 Kmart stores and 39 Sears stores will shutdown between the end of January and the end of April.
Don’t say it’s the decline of brick-n-mortar stores a the hands of the internet, as many local news media report that several soon to be vacant Sears locations have already lined up new brick-n-mortar stores, or have been sold-off to REIT (Real Estate Investment Trust) groups who have big plans to change the way you shop at brick-n-mortars. In other words, dying Sears and Kmarts (and other big name chain stores) are being replaced with even more stores.
Alaska: Anchorage Sears.
Arizona: Tolleson Kmart, 27 years old Show Low Kmart (54 jobs gone by April).
Arkansas: Cabot Kmart.
California: Five Kmarts and six Sears locations!
Colorado: Colorado Springs Kmart on North Nevada Street.
Delaware: The 54 years old Sears store and Auto Center in Wilmington.
Florida: Three Kmarts. Boca Raton Sears.
Georgia: Three Kmarts. Centerville Sears.
Idaho: Twin Falls Sears, Coeur d’Alene Sears.
Iowa: Red Oak Kmart. Urbandale (Des Moines) Kmart (59 jobs gone by April). Waterloo Sears.
Illinois: Three Kmarts. Three Sears locations.
Indiana: Indianapolis Kmart on East Thompson Road, Bloomington Kmart. Evansville Sears Auto Center.
Kansas: Wichita Kmart on South Broadway Street, Paducah Kmart.
Louisiana: Mandeville Kmart.
Maine: Bangor Sears.
Maryland: Crofton Kmart, Salisbury Kmart. Oops, Sears filed a shutdown WARN for its Westfield Montgomery Mall store, then suddenly retracted it saying it was a mistake. The WARN said 73 people would be laid off in March, but news reports say Sears Holdings claims to have signed a new lease. It should be noted that the British empire Australia based owners of the mall, Westfield Group, is selling its U.S. commercial properties to European based Unibail-Rodamco, which plans on redeveloping those properties.
Massachusetts: Burlington Sears on Middlesex Turnpike.
Michigan: Richmond Kmart, Greenville Kmart. Sears Holdings sold its partially vacant Kmart building in Jackson, however, the sale is forcing the Auto Lab auto repair shop (which was still leasing space in the building) to shutdown.
Montana: Helena Kmart, Butte Kmart.
Nevada: Las Vegas Kmart, North Las Vegas Kmart.
New Hampshire: Rochester Kmart.
New Jersey: Toms River Sears.
New Mexico: Raton Kmart, Tucumcari Kmart.
New York: Plattsburgh Kmart (67 jobs gone by April). Hicksville Sears, Kingston Sears.
North Carolina: Five Kmarts.
North Dakota: Devils Lake Kmart. Bismarck Sears.
Ohio: Warren Kmart (more than 130 jobs gone by April). Local news media confirmed that the Cambridge Kmart is shutting down in April, despite it not being on the official shutdown list.
Oklahoma: Enid Kmart.
Oregon: Portland Sears, Springfield Sears.
Pennsylvania: Ten Kmarts! Three Sears locations.
South Dakota: Rapid City Sears.
Tennessee: Three Kmarts.
Texas: Portland Kmart. Three Sears locations.
Utah: Ogden Sears.
Vermont: Rutland Kmart.
Virginia: In Richmond the Kmart on Nine Mile Road shutdown this month.
Washington: Chehalis Kmart. Three Sears locations.
West Virginia: Three Kmarts.
Wisconsin: Green Bay Sears, Brookfield Sears.
SEARS KMART DEATH SPIRAL, DECEMBER 2017 (list of shutdowns since 2011): “THE LAST THING WE WANT TO SEE IS THE MALL FAIL AND THIS THING GO SOUTH!”