LMFAO at Kmart!!!!

[jry]

[quote="Calvert DeForest"][quote="jry"]I'll never forget the time we had to sue K Mart for disturbing our business. All of their attorneys show up in really nice suits. One of the things they said is that K Mart is the only store you need. I commented that i didn't know K Mart sold Brooks Brothers suits.[/quote]

They really said that? Wow! Talk about brass cajones![/quote]

They sure did. This was in 93 or 94. BTW, they quickly settled out of court, even before mediation.

[mtburb]

Unfortunately, lost in the collapse was news of Sears ultimately declaring bankruptcy on October 15 and the resulting and expected store slashing. In Michigan, Sears stores in Ann Arbor and Lincoln Park and Kmart stores in Charlevoix and Lake Orion are getting axed.

I discussed potential replacements for the Lincoln Park location:
-Walmart is out of the running since they can't build in Lincoln Park again due to getting into disputes with Sears in previous attempts.
-Kroger building a Marketplace store like the one they opened last year in the former Super Kmart on Fort Street in Southgate was taken out of the running once they renovated their existing store right across Southfield Road.
-Meijer is probably still in the running-in fact, I heard rumors that they would be closing their Fairlane Green "The Hill" store in Allen Park (seriously?! They just renovated that two years ago too!) and moving it to the Lincoln Park Sears site while continuing to keep open their existing Dix and Emmons store nearly two miles south.
-Costco could be in the running as well, especially now that they won't be moving in next to the Taylor Menard's-that spot will now be occupied by, yes, BJ's Wholesale Club.

[mtburb]

And more closures have been announced:

https://www.usatoday.com/story/money/20 ... 933522002/

The only Michigan closure in this round is the Sears store in Battle Creek.

[Milk]

When the Sears closes in BC, that mall will be left without an anchor.

[Deleted User 8570]

Do not sell our stuff... return it immediately!:
https://amp.businessinsider.com/sears-s ... ry-2018-11

[TC Talks]

Things didn't work out that way when MC Sports went down. Some of my friends in the ski industry got stung hard.

[ftballfan]

Look at all the red on this map showing current and (mostly) past Kmart locations nationwide: https://www.google.com/maps/d/viewer?mi ... 409132&z=4

Note: This map doesn't include locations that relocated or closed prior to the 2002 bankruptcy

[TC Talks]

Looks like the drain is swirling.

https://www.cnbc.com/amp/2018/12/28/sea ... mpany.html

Sears' advisors have until Jan. 4 to decide whether ESL is a "qualified bidder." Only then could ESL take part in an auction against liquidation bids on Jan. 14. They will weigh the value of Lampert's bid against offers to liquidate the company.

The full structure of Lampert's bid could not immediately be determined, but will be made public in coming days. If it is similar to the $4.6 billion proposal he outlined earlier this month, it is likely to face pushback from the company's unsecured creditors. As part of the initial bid, which regulators required Lampert to make public, financing would in part stem from $1.8 billion in debt that Lampert would forgive through a so-called "credit bid."

[mtburb]

As that is happening, Sears will be closing 80 more stores in March. In Michigan that includes Twelve Oaks in Novi along with Muskegon.

https://www.wilx.com/content/news/Sears ... 24211.html

[Deleted User 4520]

Not many KMarts left in Michigan at all according to that map. Our little Grayling Kmart is still open. I do question how much longer??

[Deleted User 8570]

Not many KMarts left in Michigan at all according to that map. Our little Grayling Kmart is still open. I do question how much longer??

Honestly I’m amazed it still is, also the infamously busy Belleville one and the one north of Flint. How many others are there?

[LTL-FTC]

Here in Charlevoix the Kmart is in the final week of their close out sale. Everything is 90%+ off. The parking lot has been full - checkout lines stretch to the back of the store - checkout wait was 2 hours. One person defended waiting that long saying it was like earning $300/hr. The pharmacy closed withing a week of the announcement and the accounts were sold off the Wallgreen or Rite Aid.