Sears to close more stores but open mysterious 10,000 sq foot store in Fort Collins
The Sears / Kmart closure list has been updated to reflect 30 closures thus far this year. Special Thanks to the help of readers! For those looking for more speed from Eddie Lampert and Sears Holdings (SHLD) we have something that would make them happy, a report in the Coloradoan regarding a redevelopment in the Fort Collins’ Foothills Mall.
Sears plans to downsize from its 66,649-square-foot store in the enclosed mall to 10,000-square-foot store at 3400 S. College Ave.
This is not a Sears Hometown format store and apparently Sears needed its arm twisted to leave.
More from the Coloradoan:
“Sears’ smaller store was the result of months of negotiations between mall owner Alberta Development Partners and Sears”
“Under the agreement, Alberta will buy Sears’ existing location and build a new, $815,000 store that will be owned and operated by Sears. Alberta will retain the land underneath the building and issue a long-term lease to Sears. ”
Very interesting development, no pun intended. No additional comment was available from Sears Holdings. The Coloradoan says they remain “tip lipped”. Recently CEO Eddie Lampert blogged about the changing landscape of retail, and pondered what the right size of retailers is.