They said something similar to LLbean, now you would think thats too similar to Lands End. Weird.
So I guess my store isnt closing. Also another Sears near me which is seritage is clearing out their top level to a new tenant. Havent heard yet if my department is closing or moving downstairs.
Anyone have similar scenarios?
I think the "reason" we see stores leasing space to other retailers is because there are a lot of people at the upper levels of the business who are still operating under the assumption (delusion) that Sears can survive somehow, and that survival is the goal of the man at the top of the pyramid.
I guess my question is why sign on new sublease stores within the sears which is not seritage if they were closing in 6 months, I assume the new store inside sears will have to spend money making the space pretty and bringing in inventory and advertising, only to leave in a few months, doesnt make sense. Sears also just signed on Picture People in our deserted portrait studio space. Seems like hope to stay open and get customers in the store. I know picture people went into a few sears because they had filed bankruptcy and closed up their freestanding mall locations suddenly.
Also most Kmarts remaining would probably be rated as Class C space. Plenty of that available nationwide.
Most Kmarts prohibit sub leasing or chopping up the store
The fallacy in K-mart sub-leasing space within their footprint is that you still have to get customers into their dirty, dated stores. Sadly, K-mart does not have the money to do the extensive remodeling necessary to add both curb and shopper friendly appeal. Regretfully, at this point, ALL K-marts & Sears will ultimately close. Too much of too little & too late. Eddie fiddled while Rome burned.