Dead department stores are finding an unexpected new life with U-Haul (M, SHLD, UHAL)

AP Photo/Charlie Neibergall U-Haul is looking to buy 13 former Sears and Kmart stores for $ 62 million, court documents show. These former department store locations will be repurposed into U-Haul storage centers and places to house its fleet of rental trucks.  U-Haul has a policy in place whereby it buys and renovates pre-existing buildings […]

Creditors urge Sears to shut down all its stores, calling its plan for survival ‘wishful thinking’ (SHLD)

AP Photo/Charlie Riedel Sears‘ unsecured creditors are urging the company to shut down all of its remaining stores.  In a bankruptcy filing, the creditors slammed Sears’ plan to stay in business as “nothing more than wishful thinking” and “an unjustified and foolhardy gamble with other people’s money.” Sears has proposed cutting its store count to roughly […]

Sears is closing more stores, with some layoffs starting 2 days before Christmas (SHLD)

LM Otero/AP Sears is closing at least 11 stores ahead of the holidays, including six Sears stores and five Kmart stores. Layoffs at one Kmart store in Poughskeepie, New York, which employs 71 people, will begin December 23, according to a company filing. Sears has been closing hundreds of stores and selling off assets following years of crippling sales declines. […]

Sears is closing 40 stores in 24 states — here’s the list (SHLD)

Real Insight Marketplace Sears is closing at least 40 stores, including 31 Sears stores and nine Kmart 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 […]

We went to a Kmart store and saw why the company is in danger of shutting down completely (SHLD)

Kmart is owned by Sears Holdings, one of the 15 retailers named by S&P Global Market Intelligence as most likely to go bankrupt in 2018.  166 Kmart and Sears stores are expected to close by the end of April, in addition to the nearly 400 that closed in 2017.  We visited a Kmart store in New […]

Sears is teetering on the edge of bankruptcy and Kmart could be its first casualty (SHLD)

Sears’ sales are down 45% since early 2013, its debt load has spiked to over $ 4 billion, and the company is losing well over $ 1 billion annually.  To meet its obligations, Sears has been selling off valuable brands and properties. Now its pool of assets is dwindling, increasing the risk of a bankruptcy, […]

Sears’ loss narrows as same-store sales plunge (SHLD)

AP Sears’ loss narrowed to $ 558 million in the third quarter. Same-store sales fell 17% at Sears and 13% at Kmart.   (Reuters) – Sears Holdings Corp continued its streak of declining sales in the third quarter, reporting a double-digit drop in comparable sales at its Sears and Kmart chains. Sales at Sears stores […]

One of Sears’ crucial 100-year supplier relationships has died as sales plummet (SHLD)

Whirlpool Sears is no longer selling Whirlpool products, including the Maytag, KitchenAid, and Jenn-Air brands.  The retailer sold its first washing machine from the company that would become Whirlpool in 1916.  Sears’ sales have plummeted in recent years, with suppliers expressing concerns regarding bankruptcy.    Sears’ 100-plus-year history of selling Whirlpool appliances — from washing machines to […]

Toys ‘R’ Us files for bankruptcy protection after struggling to compete with online retailers (AMZN, SHLD, MAT, M, WMT, JAKK)

Reuters Toys ‘R’ Us, the largest US toy store chain, filed for bankruptcy protection, the latest sign of turmoil in the retail industry caught in the grip of online shopping and discount chains. Toys ‘R’ Us said it received a commitment for over $ 3 billion in debtor-in-possession financing from lenders including a JPMorgan-led bank […]

Sears is closing 28 more Kmart stores (SHLD)

Reuters Sears said Thursday that it was closing another 28 Kmart stores in addition to 180 previously announced closures this year.  The retailer announced this with its earnings statement that showed a quarterly loss, as the number of people visiting its stores continued to fall. Sales at stores open for at least a year fell 11.5% […]