AMC and 24 hour fitness aren't coming back, and a third of restaurants nationwide are closed permanently. Seritage was signing up Z-listers in the first place in Eddie's unmaintained c-ap spaces that needed billions in capital investment to get back up to snuff while he pays hundreds of millions annually in interest into Warren Buffet's pockets, selling dozens of properties by the quarter just to make minimum payments on the credit card. There's a reason the silence on their June and July rent numbers has been deafening. The implosion of liquidity in EddieWorld continues.
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Come on, Eileen
Come on Man
@1ofs+16hjnWUF: If the vaccine is as effective as the flu vaccine, it won't be that effective.
This is basically a pandemic issue that will resolve itself as soon as a vaccine is perfected.
If you talk to Neil Saunders of GlobalData, who's about as on top of Seritage and retail REITS as it gets, he thinks SRG is going to be the next domino to fall. Its portfolio of lessees is godawful in this pandemic.
Just checked and it's called "Sears Layoffs" and this has jack to do with that, more junk flagged for deletion
Thanks, Ron. We appreciate the umpteenth reminder of which Seritage properties still house a Sears and Kmart.
The five remaining Seritage properties that have (non-closing) Sears or Kmart as tenants:
Sears: Caguas PR; Carolina PR
Kmart: Big Bear Lake CA; Bayamon PR; Mayaguez PR
Yawn... if only Eddie had listened to the associates