Kmart management denies they are about to screw their workers

[dawp]

solution: jack up rent 10% every other month

If you're under a lease contract I don't a landlord can do that if it isn't in the lease.

Once you go month to month, local laws probably prevent huge rent rises.

 

[Ns1]

If you're under a lease contract I don't a landlord can do that if it isn't in the lease.

Once you go month to month, local laws probably prevent huge rent rises.

yeah we're on month to month cuz most leases expire after a year.

my local laws state 10% max every 30 days (assuming a month to month lease here). At 1300+ rent, they jack it up $100 every few months and we just take it.

 

[nakedfrog]

Dollar stores move into areas that a Walmart won't touch. Mostly small or dying towns or more urban areas. Usually into old buildings with low rents, and into much smaller spaces. Prices are higher, many of the products are crappier and/or off-brands. But they're convenient for some people, especially the elderly or those with no personal transportation to get out of town to the shopping centers on the fringes. I don't think Kmart would be doing itself any favors by going that route.

They (Dollar General) actually moved out of a crappy old building in my (small) town, into a brand new one built specifically for them. I was pretty shocked by that. New location is maybe a quarter of a mile from the old one.

 

[Puffnstuff]

And yet Dollar Generals/Family Dollars and the like are booming. They just didn't compete.

I love Dollar General, they put my Folgers coffee on sale on a regular basis and when I see it I roll over there and fill up a buggy with it. I wish they were located a little bit closer but I manage.

 

[FeuerFrei]

Family Dollar just opened a couple blocks from me a couple weeks ago -a new build. Kind of a surprise because no one builds stores in this part of the city. 'Tis only convenience stores or entrepreneurs repurposing old empty storefronts for their personal hole-in-the-wall business. You can tell Family Dollar was unwilling to sink much money into erecting the new store - it's a corrugated-steel structure. It's kind of nice to have a legit grocery-type store within a 6 minute walk.

The local Big-K(mart) closed last year. I always wondered who shopped there. I went in maybe 3 years ago out of pure curiosity and it was like stepping back in time to the 90s.

 

[bradly1101]

When my Gemco store closed there was a woman at the checkout who was having a nervous breakdown. It turned out that the previous day she had bought a bunch of shoes for fifty cents each, but now they were half that. Site freaked out! According to her check she lived in the toniest neighborhood around. Through her tears she begged the manager for the new discount and got it.

 

[madoka]

Sears and Kmart closing 150 stores:

https://www.yahoo.com/finance/news/sears-closing-150-stores-213148758.html

Called it back in July:

I'll bet a lot of them get shut down right after the Christmas sales season.

It sucks if management is lying to them and giving them false hope.

 

[Ns1]

Called it back in July:

 

[Imp]

Maci's is too.

 

[Exterous]

They are selling the Craftsman name too. If they are willing to sell that to survive I think they're done scraping the bottom of the bucket

http://money.cnn.com/2017/01/05/investing/sears-sells-craftsman-stanley-black-decker/

 

[NuclearNed]

My brother-in-law worked for Sears 40 years and recently quit... he sees Sears belly up within a year

 

[PricklyPete]

They are selling the Craftsman name too. If they are willing to sell that to survive I think they're done scraping the bottom of the bucket

http://money.cnn.com/2017/01/05/investing/sears-sells-craftsman-stanley-black-decker/

Arguably there last real asset other than real estate. I can't imagine a scenario where this story gets turned around...but good luck to them.

 

[Sonikku]

They are selling the Craftsman name too. If they are willing to sell that to survive I think they're done scraping the bottom of the bucket

http://money.cnn.com/2017/01/05/investing/sears-sells-craftsman-stanley-black-decker/

If you're unprofitable even with your assets, what chance do they have at returning to profitability by selling them?

Perhaps if they keep selling their stuff off they can stay afloat a little while longer, but what's the point? if you're a business and you're not profitable one might better roll the business before debts pile up.