Retail meltdown: Target Canada goes belly up

[CZroe]

Wait, wasn't it K-Mart that bought Sears?

Of course not. K-Mart went through several rounds of store closures and couldn't emerge from bankruptcy when Sears bought them. Out of ten locations I recall growing up, only one remains. The only Sears closure I know of is at an entire mall that closed down.

Edit: Guess I have been long-confused by the name change, since they were owned by "Sears Holdings" or something.

 

[waffleironhead]

Wait, wasn't it K-Mart that bought Sears?

Yeah.
http://www.nbcnews.com/id/6509683/n...mart-acquire-sears-billion-deal/#.VPhqNoZOKrU

 

[feralkid]

Of course not. K-Mart went through several rounds of store closures and couldn't emerge from bankruptcy when Sears bought them. Out of ten locations I recall growing up, only one remains. The only Sears closure I know of is at an entire mall that closed down.

So what's up with this?

http://www.nytimes.com/2004/11/18/business/18shop.html?_r=0

 

[feralkid]

Yeah.
http://www.nbcnews.com/id/6509683/n...mart-acquire-sears-billion-deal/#.VPhqNoZOKrU

Thanks...I thought so.

 

[K1052]

Of course not. K-Mart went through several rounds of store closures and couldn't emerge from bankruptcy when Sears bought them. Out of ten locations I recall growing up, only one remains. The only Sears closure I know of is at an entire mall that closed down.

Sears is shedding real estate all over the place and it's going to accelerate over the next couple years. I can think of at least a dozen places they've sold off the top of my head. The own a ton of valuable real estate, have under-performing stores, and really need the cash.

 

[CZroe]

Guess I was long-confused by the name change to "Sears Holdings" and understood that "Sears" had owned Kmart since their financial troubles in 2004. Until recently K-Mart ran a distribution center here in Newnan even though they closed down all the closest stores. It finally closed down too.

Sears is shedding real estate all over the place and it's going to accelerate over the next couple years. I can think of at least a dozen places they've sold off the top of my head. The own a ton of valuable real estate, have under-performing stores, and really need the cash.

I have no doubt that they are doing poorly now, sure. It seems that a lot of it is Kmart's toxic baggage (converted Kmart stores, for example). I remember seeing some article with a ton of photos showing just how bad Sears has become. It was depressing.