Quote:
Originally Posted by Jim Richards
I wonder if Sears actually owns their property, or is it leased?
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Apparently Sears owns (or has owned) a lot of its properties. (I don't know if that's true at mega-malls though, where the Sears may be one of the anchor stores.) So one thing the owner, Eddie Lampert, of Sears has been doing is selling the property to his holding company, which then leases the buildings back to Sears (the retail store). Or closing Sears stores and re-leasing them to other retailers. I guess Lampert figures the real estate is more valuable than the retail business.