Find in the news:
BY COUNTRY

Sears Announces Possible REIT Conversion, Stock Prices Jump



Beleaguered retailer Sears Holdings Corporation announced that it was investigating the possibility of initiating a REIT transaction that would involve between 200 and 300 of its existing properties.  

The company is looking to initiate a rights offering to its shareholders, and they couldn’t be more excited about the possibility. Once the news was made public, Sears’ stock price rose a surprising $13 per share to a price of more than $45.50.

In recent years, Sears Holdings Corp. has struggled to remain profitable in an evolving marketplace and to present a format that is relevant to today’s consumers. Despite attempts by both Kmart and Sears to improve performance by offering product lines endorsed by celebrities like Martha Stewart, Sears Holdings Corp. continues to flounder. Already this year, 210 of the company’s Sears and Kmart stores have either been closed or identified for closure. Before Christmas this year, Sears and Kmart will lay off, at minimum, 5,450 employees and will close more than 100 Kmart, Sears and Sears Auto Center locations. Stores in all of the company’s markets are failing to performing, but the areas hit hardest by layoffs and store closures will be Indiana, Pennsylvania, and Michigan.

Sears is pursuing several different strategies to try to turn the company around. In some markets, the company is redeveloping existing properties into multi-use lifestyle villages that combing entertainment, retail, dining, and office space. The proposed REIT conversion is yet another way to return the company to profitability. Sears is looking to improve its financial flexibility and asset liquidity through a conversion, and it stands to realize a significant financial gain if it is able to complete the REIT transaction. Ideally, Sears Holdings is looking for a sale-leaseback opportunity that would allow its stores to continue to operate while minimizing the parent company’s financial risk in operating these stores.

sears closing

Under the terms of the proposed REIT selloff, Sears Holdings would select a group of stores to be sold off to a newly-created real estate investment trust. The Sears, Sears Auto Center and Kmart locations sold to the REIT would continue to operate under master leases. The company will distribute rights to its shareholders, allowing them to purchase shares of common stock in the new REIT.

While Sears Holdings Corporation has already filed its request for a conversion with the United States SEC and stock prices have jumped in anticipation of the proposed selloff, the company has emphasized the fact that such a transaction is not guaranteed at this time unless Sears can reach an agreement with a REIT on satisfactory financial terms.

More about shopping malls in the USA



Mar 5, 2021, USA:
The release of FiftyFifty is timed to coincide with International Women's Day and is designed to challenge couples to be a frank yet casual conversation.
Mar 5, 2021, Spain:
The new buildings and renovations will result in a massive office space designed to attract new talent.
Mar 4, 2021, Spain:
Despite an earlier agreement to create new jobs, Inditex announced its intention to close more than 1,200 stores worldwide.
Mar 4, 2021, USA:

About 20 percent of the company's branded stores will close by the end of 2021 as it decides to focus more on developing online sales.
Mar 4, 2021, United Kingdom:
Shoppers will appreciate grocery shopping without cashiers and queues in the Amazon Fresh store in London.
Mar 3, 2021, USA:
The company's goal is to open new stores, renovate existing ones, and develop online retailing.
Friend
and Follow
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us