Friday, July 27, 2018

Decelerating News

10 more Sears and Kmart stores have been added to the list of locations slated for closure in September. With the additions, a total of 78 stores – 62 Sears and 16 Kmart locations – will close in September.  Sears Holdings has closed more than 500 stores over 15 months through the end of its fiscal quarter on May 5... Rockport has agreed to sell itself in bankruptcy to private equity firm Charlesbank Capital Partners. Rockport expects the sale, which will require court approval, to close by July 31...The Fresh Market Inc. plans to close 15 stores in 9 states...Women’s clothing retailer Annie Sez plans to either close its remaining 10 locations or convert them to Mandee stores...Toys “R” Us announced that its subsidiary, Toys “R” Us Property Company (Propco), has hired Raider Hill Advisors to oversee the sale of approximately 284 properties in 46 states..TRT Holdings, owner of Gold’s Gym, is moving out of the health club business to focus on its core business, Omni Hotels & Resorts, and will sell the fitness chain. Gold’s Gym has more than 700 locations across six continents.

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