Sears Completes Sale of 11 Stores to General Growth Properties
April 18, 2012,
HOFFMAN ESTATES, Ill.-Sears Holdings has closed the $270 million sale of 11 stores to General Growth Properties.
As announced in late February, the stores are located in Florida, Hawaii, Illinois, Iowa, Minnesota, Texas, Utah and Washington State. Each of the stores is part of an existing General Growth property. In a company statement, Sears Holdings said it has already received the proceeds, and that the stores will continue to operate as Sears locations into 2013 or 2014.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.