Thread regarding Sears layoffs

I wonder if the Sears and Kmart that is now owned by Seritage Growth will be the only ones to stay open and..

All the other stores will close..

I don’t know how many of the approx 230 sears/Kmart properties are actually open but I’ve read these are all the prime locations as far as real estate

I never hear anything about the Sears store in Livonia Michigan at 7 mile and Middlebelt but there was a $500,000.00 loan against that property if you do a search through the wayne county register of deeds.

That loan sure wasn’t used to spruce up the property as the store front still looks the same as it did back in the 70s

Sure is going to be interesting to see how Sears/Kmart unravels all the stinky deals Eddie has pulled off..

Hope there are transactions than can be clawed back by the courts

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| 812 views | | 2 replies (last October 12, 2018) | Reply
Post ID: @OP+VBGKxke

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Some of the Seritage in Illinois are closed/closing/in bad areas. I know this firsthand. Overall I'm sure they are fine.

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Post ID: @kvy+VBGKxke

At some point Sears will not be able to pay rent to Seritage. Then the properties will be repurposed. This is probably why Warren Buffet said a couple months ago, he would provide financing to help Seritage when if/ when they get stressed. Buffet owns about 10 percent of Seritage.

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Post ID: @dbj+VBGKxke

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