Joined: 27 Feb 2009
Posts: 47
| Posted: Tue Sep 29, 2009 5:59 am Post subject: Sears Essential store floods...won't reopen | |
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A Sears Essential store in East Ridge, TN (Chattanooga) flooded last week and the employees found out today Sears won't reopen the store.
Kind of makes Sears the opposite of the post office. http://wdef.com/news/sears_essentials_store_closing_after_flood/09/2009 |
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Joined: 14 Jul 2006
Posts: 633
| Posted: Tue Sep 29, 2009 2:03 pm Post subject: | |
That's awful! 
Does anyone know if the employees would qualify for any sort of assistance from the government since their store is closing because of the flood? Is that me being too hopeful? |
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Joined: 08 Jul 2003
Posts: 6606
| Posted: Tue Sep 29, 2009 6:09 pm Post subject: The Landlord | |
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It sounds like the landlord won't repair the building; or so they say.
But even the landlord could get aid if the area was declared a disaster area. The owner's probably waiting for an insurance check. Hope the employees have been placed in new jobs without question. |
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Joined: 03 Mar 2005
Posts: 1815
Location: Michigan
| Posted: Wed Sep 30, 2009 3:32 pm Post subject: | |
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It sounds more like the lease is close to expiring.
When SHC tipped the hat about the landlord, more than likely this was a Kmart conversion. Lord knows what the condition of the store is, just from that fact alone. In the current economic situation, it is probably more prudent for the landlord to postpone any necessary repairs, because it will certainly be more outlay than it is worth. If a new lease was somewhere on the horizon, SHC would have been balking even before negotiations would begin. With this event, they would have certainly seen the cleanup factoring in a larger amount. They'd be pushing to walk away anyways, so this is a nice easy way out for them. Add to this the utter disappointing performance of the Essentials brand, another decision factor -- they couldn't have planned it better, it seems. |
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