Contact Us

Will the Bangor Mall Be Looking For A New Anchor Store?

(Photo by Spencer Platt/Getty Images)

Will the Bangor Mall be looking for a new anchor store? Sears, which run 2,500 Sears and K-Mart stores announced today (10/29/13) that they are considering spinning of their Lands’ End retail catalog business. Closing some locations that are less profitable  or whose leases are about to expire and restructuring their auto service to  possibly tires only plus, selling off  five of their Canadian leases.

The announcement came in a reaction to an expected third quarter loss. Experts are of the opinion that Sears inability to adapt to a larger more competitive and the fact they have not upgraded their shoppers experience has led to this conclusion.

In an attempt to restore its viability last year, Sears made strides towards better profitability by cutting costs, reducing inventory, selling off some assets and spinning off others. These actions reduced net debt by $400 million and generated $1.8 billion in cash from the asset sales in the latest fiscal year. Sears also has been building a loyalty program called Shop Your Way, which accounts for 65 percent of its sales and has tens of millions of active customers.

Guess we’ll have to wait and see.

Best of I-95

Recommended for You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for I-95 Road Crew quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive I-95 Road Crew contests, events, coupons, presales, and much more delivered to you for FREE.