Sears-Kmart Death Watch

[Mr. Matté]

And then there were two (come fall): https://www.northjersey.com/story/news/bergen/westwood/2023/08/02/kmart-in-westwood-to-close-last-one-in-new-jersey/70517276007/

[Life in Paradise]

And then there were two (come fall): https://www.northjersey.com/story/news/bergen/westwood/2023/08/02/kmart-in-westwood-to-close-last-one-in-new-jersey/70517276007/

The question has been for the past few years: why haven't they just gone ahead and closed them all?  Can you really have a "chain" with just a handful of stores (or in this case, two)?  They could just go online and have a presence there like the Circuit City name (someone bought).  Heck, Radio Shack has several hundred stores open; probably helped that there were franchises rather than company owned stores.

[kkt]

I speculate that it might have to do with the property arrangements on the stores.  Leased stores with a draconian early exit clause?  Or they own the property but don't have the staff to undertake a whole bunch of sales at once?  Or they want to time the property sales market?

[thenetwork]

If Johnny Carson was still around on the Tonight show, he would be all over this news, especially, since it it plans on happening in "Beautiful Downtown Burbank"...

https://www.costar.com/article/1434809717/sears-moves-closer-to-rare-store-relaunch-in-los-angeles-county?mibextid=Zxz2cZ&fbclid=IwAR09l27acLPjwe1RU00dldaLJ9DU9KxrS1_9bRy0GYMvC0907ECdn7cGCC8

[kkt]

If Johnny Carson was still around on the Tonight show, he would be all over this news, especially, since it it plans on happening in "Beautiful Downtown Burbank"...

https://www.costar.com/article/1434809717/sears-moves-closer-to-rare-store-relaunch-in-los-angeles-county?mibextid=Zxz2cZ&fbclid=IwAR09l27acLPjwe1RU00dldaLJ9DU9KxrS1_9bRy0GYMvC0907ECdn7cGCC8

Wow, I would not have expected that.  Is there some way that this store is not bankrupt?  Otherwise, who would do business with them?

[brad2971]

Speaking of recently closed Kmarts: https://bringmethenews.com/minnesota-news/minneapolis-to-speed-up-demolition-of-lake-street-kmart-after-fire

You would think city planners, having been embarrassed into agreeing that closing Nicolett Av. in the late 1970s for something as ephemeral as a Kmart in Target's HQ city was a bad idea, would try to avoid any sort of plans beyond simply reopening Nicolett Av. But apparently not: https://www2.minneapolismn.gov/government/programs-initiatives/new-nicollet/

[Flint1979]

Work has started on demolishing Kmart's former HQ building in Troy, Michigan.

[Great Lakes Roads]

https://www.facebook.com/SearsJerseyCity1044

Sears in Jersey City, NJ at Newport Centre closing sometime in March/April 2024...

No more Sears in New Jersey and the NYC region!

[SectorZ]

https://www.facebook.com/SearsJerseyCity1044

Sears in Jersey City, NJ at Newport Centre closing sometime in March/April 2024...

No more Sears in New Jersey and the NYC region!

The copium in that Facebook post, "Why, it's an iconic store, it makes no sense to close it, it's in a good location".

[Brandon]

https://www.facebook.com/SearsJerseyCity1044

Sears in Jersey City, NJ at Newport Centre closing sometime in March/April 2024...

No more Sears in New Jersey and the NYC region!

The copium in that Facebook post, "Why, it's an iconic store, it makes no sense to close it, it's in a good location".

Yep.  What they fail to realize is that this is the world's longest liquidation sale.

[thenetwork]

https://www.facebook.com/SearsJerseyCity1044

Sears in Jersey City, NJ at Newport Centre closing sometime in March/April 2024...

No more Sears in New Jersey and the NYC region!

The copium in that Facebook post, "Why, it's an iconic store, it makes no sense to close it, it's in a good location".

Yep.  What they fail to realize is that this is the world's longest liquidation sale.

In my area, we have a western goods store that has prominently advertised a "Going Out Of Business Sale" for no less than 10 years now with a big sign in their parking lot.

Out of curiosity, I went in just to see what kind of "deals" there were about 5 years ago.

The place was stocked to the gills with cowboy hats, clothing, boots and belts.   What looked like simple leather belts were priced at $200 plus -- before the alleged 60-80% GOOB discount "reductions".

It's no wonder why there is nobody in their parking lot, everyone knows the guy is a rip-off artist.  I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

[Big John]

^^ No Oriental rugs?  I have seen those sold only via going out of business sales.

[Scott5114]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

[hotdogPi]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

False advertising laws.

[Scott5114]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

False advertising laws.

...allow someone to sue the guy in civil court. To do so you have to allege damages. Who is damaged if someone says they are going out of business and then does not?

[Bruce]

Two Sears stores in Burbank, CA and Union Gap, WA (near Yakima) actually reopened: https://www.thenewstribune.com/news/business/article283090363.html

[kalvado]

Two Sears stores in Burbank, CA and Union Gap, WA (near Yakima) actually reopened: https://www.thenewstribune.com/news/business/article283090363.html

Zombie apocalypse is beginning.....

[Big John]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

I think on one state (Illinois?) you have to obtain a going out of business permit and permanently close by the date shown on the permit. And any ad they show for that sale must include the permit number.

[GCrites]

A seasonal leather goods store in a mall near me has been GOOB for probably 6 years now. I suppose it's true since they are OOB during the warmer months.

[Scott5114]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

I think on one state (Illinois?) you have to obtain a going out of business permit and permanently close by the date shown on the permit. And any ad they show for that sale must include the permit number.

That seems like it would preclude any sort of last-minute reversal of fortunes that result in the store staying open, though. Maybe if you said that a business could only have a going-out-of-business sale last for X many days, once every X years...

Really, though, although an endless going-out-of-business sale is very stupid, the reason for the sale is (or should be) immaterial to the purchasing decision. A sale price could be due to a going-out-of-business sale, or I-used-a-whole-jug-of-milk sale, or a I-farted-loudly-and-it-scared-my-cat sale. If you like the price on offer, great, buy it; if you don't like the price, don't.

[kalvado]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

I think on one state (Illinois?) you have to obtain a going out of business permit and permanently close by the date shown on the permit. And any ad they show for that sale must include the permit number.

That seems like it would preclude any sort of last-minute reversal of fortunes that result in the store staying open, though. Maybe if you said that a business could only have a going-out-of-business sale last for X many days, once every X years...

Really, though, although an endless going-out-of-business sale is very stupid, the reason for the sale is (or should be) immaterial to the purchasing decision. A sale price could be due to a going-out-of-business sale, or I-used-a-whole-jug-of-milk sale, or a I-farted-loudly-and-it-scared-my-cat sale. If you like the price on offer, great, buy it; if you don't like the price, don't.

In ideal word yes. But I don't know the market for leather belts. I need one at reasonable price, but what is the reasonable one? I can assume store knows better,  but I didn't look at anything yet. Now it's a 80% off deal.....
You may go down to economy basics and say whatever I am willing to pay... But since price negotiation is a theory these days and occur mostly as statistics - I don't have good price negotiation skills, especially for infrequent buys. One can call such "99%off" predatory

[mgk920]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

False advertising laws.

My hometown City of Appleton, WI has an ordinance that requires a city issued  'Close Out Sale' license that is specifically approved by a vote of the the city council.

Mike

[Scott5114]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

I think on one state (Illinois?) you have to obtain a going out of business permit and permanently close by the date shown on the permit. And any ad they show for that sale must include the permit number.

That seems like it would preclude any sort of last-minute reversal of fortunes that result in the store staying open, though. Maybe if you said that a business could only have a going-out-of-business sale last for X many days, once every X years...

Really, though, although an endless going-out-of-business sale is very stupid, the reason for the sale is (or should be) immaterial to the purchasing decision. A sale price could be due to a going-out-of-business sale, or I-used-a-whole-jug-of-milk sale, or a I-farted-loudly-and-it-scared-my-cat sale. If you like the price on offer, great, buy it; if you don't like the price, don't.

In ideal word yes. But I don't know the market for leather belts. I need one at reasonable price, but what is the reasonable one? I can assume store knows better,  but I didn't look at anything yet. Now it's a 80% off deal.....
You may go down to economy basics and say whatever I am willing to pay... But since price negotiation is a theory these days and occur mostly as statistics - I don't have good price negotiation skills, especially for infrequent buys. One can call such "99%off" predatory

How is that any different than any other kind of markdown sale, though? One could well have the same questions at a Black Friday sale.

[kalvado]

I'm just surprised that he is allowed to continue this sham for so long under the Going Out Of Business auspices.

How exactly would someone stop him?

I think on one state (Illinois?) you have to obtain a going out of business permit and permanently close by the date shown on the permit. And any ad they show for that sale must include the permit number.

That seems like it would preclude any sort of last-minute reversal of fortunes that result in the store staying open, though. Maybe if you said that a business could only have a going-out-of-business sale last for X many days, once every X years...

Really, though, although an endless going-out-of-business sale is very stupid, the reason for the sale is (or should be) immaterial to the purchasing decision. A sale price could be due to a going-out-of-business sale, or I-used-a-whole-jug-of-milk sale, or a I-farted-loudly-and-it-scared-my-cat sale. If you like the price on offer, great, buy it; if you don't like the price, don't.

In ideal word yes. But I don't know the market for leather belts. I need one at reasonable price, but what is the reasonable one? I can assume store knows better,  but I didn't look at anything yet. Now it's a 80% off deal.....
You may go down to economy basics and say whatever I am willing to pay... But since price negotiation is a theory these days and occur mostly as statistics - I don't have good price negotiation skills, especially for infrequent buys. One can call such "99%off" predatory

How is that any different than any other kind of markdown sale, though? One could well have the same questions at a Black Friday sale.

And it is the question being asked. And people did find $8.99 price sticker below  BLACK FRIDAY! 9.99 ONLY!

I am not going to get into the ethics of retail sales. I'm afraid it's the game where it is hard to win as both a buyer who would end up ripped off anyway or seller who has to go into dirty tricks to get their margins. Maybe there are some expert buyers who can navigate and enjoy all this, I am definitely not one of them.