Are we still on the list that was announced with bankruptcy or have any more stores gotten closing notifications since then?
Before Chapter 11, we'd get a major announcement, then a number of stealth closings, then a major announcement... Rinse and repeat. I'm curious if that system continued even after the filing.
The logistics to the Guam Kmart are not the same as the mainland. Several containers are sent over at a time and stored locally at the store, then opened when needed. A lot of local vender purchasing is done as well.
My theory is that the successful Kmart chain in Australia (split off from US Kmart long ago) will buy the Guam Kmart. It's 2,800 miles from Australia to Guam, but 6,000 miles from California to Guam.
Hopefully Sears Escondido is on the NEW closing list.
I wonder about the KMart in Guam, then. It's hugely profitable, but that's a long way to send merchandise. All the KMarts in Hawaii have closed, so the next closest one is in California.
@kek Probably means that my Kmart (even though it is on the "safe" list) that it is also on top of a mountain so yeah, the logistic costs of my store is probably pretty high.
@gfn Hence stores like Madawaska, Maine. I know recently there was a big thread about how can a store like that one close when it's the only thing around in the market? The reason is simple -- it's a long way to send a truck/trailer when there's nothing else within several hours.
@kek You make a very good point. Logistics will be a major consideration in which stores to close and which to stay open. Open stores will have to be concentrated within close proximity to a warehouse otherwise the costs will be prohibitive. Any store now not close to a warehouse look out and good luck.
Many of the stores on the provisional/under review list have basically hinted to their employees they are closing and are not encouraging employees to stay. Many are leaving as soon as a new job is lined up. Eddie is considering a bid for 500 stores, so there will be reprieves on the under review list that will end up as "safe" stores, assuming Eddie can fund their ongoing operations and exit bankruptcy.
I just don't see Sears surviving long term without at least one store location in every major city in the country. Because they are not a regional chain, logistics costs will be a killer.
I think their ability to do stealth closings is limited now that they're under the court-controlled bankruptcy process. So far, I have not heard of any that weren't on the list of stores to immediately begin liquidation that was announced Oct 15 (and ones that were announced back in August that are just now wrapping up their liquidation period). The Oct 15 court filing also included (labeled with obscure legalese) the list of potential closures being considered for Nov 15, and the list of what will be the final remaining stores whose fate is supposed to be decided on or around Dec 15.
Winter is coming