I can confirm the Westwood Kmart just finished up an inventory which is a sign that for now they are staying open.
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When I worked for RGIS many years ago, we'd do inventories on stores (not Sears, they were still viable back then) that were closing or changing hands.
@1wai+172H19S4 the Westwood store in question is in NJ.
NJ commercial real estate rents are also way too high. Especially in Bergen County.
the inventory is part of the accounting requirements for a corporation to perform its tax filing and SEC filings. It is not optional.
@1tbd+172H19S4 Of course they are asking too much! Its because CA real estate, for sure commercial property, is way too damn high. Probably the only reason that the Big Bear Lake Kmart is still opened as well.
@svg+172H19S4 That shopping plaza in quite run down with at least half the store fronts empty and for lease, and it’s been that way for a long time now. So having kmart is better than no tenant at all. Don’t know why that plaza is in such bad shape though. My only guess from rumours is landlord might want too much for rents. Besides that whole place needs a complete overhaul, so technically kmart fits in quite well, an old store in a run down plaza.
The original post states in part "....just finished up an inventory which is a sign that they are staying open"...
When in actuality it should say ....'just finished up an inventory which confirms that they have not yet closed"...
That location, as well as Avenel NJ are listed for lease, so while it's technically true that there are no liquidating Kmarts as of now (last one from the latest list closed in August, I think), they will soon be closing.
https://leasespaces.jll.com/?propertyId=757961-lease
Our inventory was in September last year 2 weeks later we got gut punched and started closing.
We had inventory in our store and were announced as closing 3 weeks later.
Not yet. Eventually. etc.
(No, not happy about it - just being realistic.)
Eventually, it will close as the building is up for lease its only a matter of time for the landlord to kick out Kmart in favor of a more attractive store for that area.
Stores do inventory to provide accurate information to liquidate and bring in more merchandise.
Jack or Ron will soon ad you to the list. Probably took 20 minutes to count lol....
we had inventory in August and were told we were closing in October, its not a guarantee of anything.
That's great news! Thanks for sharing.
"for now" is the key phrase.