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



YESTERDAY, North America, North America:
A retailer has filed several new trademark applications, indicating that it intends to produce and sell virtual goods.
Jan 15, 2022, United Kingdom:
Selfridges will be the first-ever entry into the meta-universe, and for the department store's customers, it will be a unique token buying experience.
Jan 15, 2022, Japan:
Fast Retailing CFO: "It's time to review and raise prices on some products as we face higher costs."
Jan 14, 2022, USA:
Employees who have not been vaccinated could be laid off as early as January 15, 2022.
Jan 14, 2022, United Kingdom:
Among the top three streets in the world are London's Oxford Street, Madrid's Gran Via, and New York's Fifth Avenue.
Jan 13, 2022, China:
A total of 12 flagship department stores, 90 stores, and more than 60 catering facilities will be located at the complex.
Friend
and Follow
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


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