Market News Today - This Massive Department Store Now Shuts Down A Major Location

This Massive Department Store Now Closes A Major Location

March 6, 2024

This massive department store now closes a major location after 35 years due to facing ongoing hardships, sources report.

A struggling retailer has just closed down one of its anchor stores after 35 years, reports The-Sun.

Sears stores around the nation have been facing hardships due to many factors like low foot traffic and a big shift towards a growing digital landscape.

Since its bankruptcy filing back in 2018, the once-iconic retailer shut down over 100 locations.

At its peak, Sears was one of the world’s largest retailers, with nearly 3,500 Sears and Kmart locations.

Its latest closure was located at the Gardens Mall in Florida which first opened in 1988.

Shoppers were alerted to the closure by a note left on the door stating the shutter was effective Friday, March 1.

However, the spot may not be vacant for long as a spokesperson for the Gardens Mall stated its future in a press release.

“A founding department store for Sears Palm Beach Gardens retail destination, Sears will close this month at The Gardens Mall,” the spokesperson said.

“The Forbes Company, along with their partners, are working together to announce new plans for the repurposing of the two-level retail space,” they added.

After this closure, only two Sears locations are left in Florida, one in Coral Gables and one in Orlando, according to the Sears website.

Despite its filing, the retailer was saved from bankruptcy after a lawsuit from its former CEO was settled.

Since the filing, Sears went from about 700 brick-and-mortar locations to about 11.

In recent months, the company shut down its last store in New Jersey.

The New Jersey’s Newport Mall closed the Sears down on March 3, an employee confirmed.

The next closest Sears to the Jersey location is in Massachusetts, outside Boston.

This means that there are only a few states that the company will reside in.

Shoppers may still find four Sears stores in California, two in Florida, two in Washington, and one in Texas.

There is also one location remaining in Puerto Rico.

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Also Read: Clothing Retailer Now Makes Painful Decision To Close All Stores

Other Economy News Today

A massive restaurant now makes an unexpected closure after the company’s CEO hinted of 41 shutters in the future.

Customers at Outback Steakhouse are devastated to find out their local restaurant is closing down, reports The-Sun.

The parent company, Bloomin’ Brands Inc, is in the process of closing a total of 41 locations nationwide.

Customers at the Outback in Kentwood, Michigan, have been disappointed to learn their local eatery has closed down for good.

A note on the door thanks customers “for the years of support.”

All Outback signs have already been torn off the restaurant, which is situated next to a Dave’s and Busters.

Many regulars are sad that they will now have to drive a lot further to order a Bloomin’ onion and other menu favorites.

‘Nooo!” wrote one on Facebook, adding: “That was my go-to location.”

One described it as “My favorite steakhouse.”

“That’s another Outback that’s closing. That’s horrible,” commented a third.

Outback is currently in the process of closing many locations across the country.

Aside from Outback, the parent company is closing restaurants including Carrabba’s Italian Grill, Fleming’s Prime Steakhouse, Bonefish Grill, and Aussie Grill.

Bloomin’ Brands CEO David Deno told investors last week that the company had decided to close its “predominantly older, underperforming restaurants.”

He said most of these locations were “older assets with leases from the 90s and early 2000s.”

In some states, the closures have left customers with zero Outback Steakhouses left.

In Hawaii, all three Outback restaurants shut down February 18.

A worker at the Waipio location told KHON2 that staff had been given just “two days” notice of the closure.

The same week, Outback closed down its final location in New Hampshire.

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Also Read: This Massive Mall Retailer Is Now Closing In California

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