Why did 250 stores really close? Where I live the Kmart was really super busy. The whole Plaza showed Kmart Corp as owner. The Store Manager said this store would be the last store to close and even the busy Pharmacy had 2 techs working at times. The store got even busier when Shopko closed down the street. The Store Manager bragged that Dollar Tree pays them rent including the other 2 small stores attached and that Kmart actually owned the newly built Taco Bell. I asked why not put some money into the store and with all the stores that closed replace the badly sun faded sign and she said she could get no help from Corporate. In the grocery section I started noticing all these off brand products and the store was getting quite empty of course this was just after the bankruptcy, however little improved and now they are closing. I watched tons of You Tube videos of busy Kmart stores that were added to the closing list too. Why? Oddly they are hiring for $11/hr yet current employees mostly at minium. What is incentive to stay for Part Timers when Target starts at $13/hr.?
7 replies (most recent on top)
Eddie owes a lot of people a lot of money, and he's not paying. This is a civilized country, the very word civil implies laws, and when you defraud and cheat others, you go to jail.
@dat Exactly man, not sure why you got thumbed down. People with all their conspiracy theories and all. It's much simple than that. Like Eddie or not, it's his business, not Charity. If you owned a business you are free to hire, or not, Fire, Or not, as few or as many people as you want, when you want. If you want to sell your real estate, that too, is your right. He can do the same with HIS company. Nobody is guaranteed a job at Kmart or Sears. When he chooses to close a store, he can sell the property, keep it, move his grandma into it, or turn it into a strip club, it's his property and his decision. Not that complicated. As long as people are Paid for the work they performed, he doesn't owe anybody a job.
K mart is closing so the liquidation abacus advisors can make money and kick it back to transformco.
@gen Exactly! Not Rocket Science. The stores are closing because they simply are not Profitable to keep open. It's not some wacky conspiracy, nobody has it out for Johnny the shelf stocker or Kathy the Cashier. It's simply not Profitable for the company to keep open. It's not Charity. If the store does not generate Profit, it will close. Laws of supply and demand.
It’s because they know a lot of you are too afraid to move. You won’t change jobs because you’re use to where you are. If you were going to change jobs, you would have done so years ago.
They hire new people at higher wages because there’s a new demand for more workers when the store closes. So those new workers are worth more to the store. Those who already work there are worth the same, but if they can keep paying you minimal wage, they’ll take the chance. Worst case scenario is you quit and they hire someone they would have needed to hire anyway.
Your store is closing because either the cost to run the store is greater than the revenue, or the profit from selling the store is greater than what the store can earn before the next break point for staying in business. The store can appear to be doing well but there are a lot of other factors that may affect what the company can actually get out of the store.
Sears Holdings was never established to be a retailer. Not sure why you folks STILL don't get that.
What u posted looks awfully familiar. Did u post that on another thread? Anyway, Kmart closed because it's an obsolete store that nobody cares about anymore. The last few will thankfully be gone soon. Life moves on.........