@6tre Yes, they have already said they will be gradually auctioning off a lot more properties for lease-back arrangements (Sears gets to continue operating in at least part of the building, for at least some amount of time) if they like how this round of auctions go. Eddie's Seritage pocketbook must have reached its limits, so they're doing this to get outside money in.
4 replies (most recent on top)
The Novi michigan store is one of the ring fenced properties and is listed in that auction site.
Wonder if they are just testing the auction waters and if the remaining will be added to that site
The ring fence is now part of the three ring circus .
Pension Guarantee folks released the properties to monetize for one more big add to the till. Then there's nothing put in for two years .
You have to wonder where their heads at.
I am one of the ring stores. I know we had some inspections and surveys done a few months ago but haven't heard anything. I'm assuming we are just waiting for a buyer.