bill read on sears

Sears bankruptcy: In metro Atlanta, few stores remain

The Atlanta Journal-Constitution, by Matt Kempner, Oct 15, 2018

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Sears, once the mightiest of American retailers, was an endangered species in metro Atlanta even before it filed for bankruptcy protection Monday.

Even before waves of recent closures in the region, it had receded in the minds of shoppers, retail observers say.

“Sears has been irrelevant for a number of years,” said Ken Bernhardt, a former Georgia State University marketing professor.

The old Sears Building (shown in 1948) is now Ponce City Market in Atlanta. (The Atlanta Journal-Constitution)

Sears Holdings, which includes Sears and Kmart stores, filed for Chapter 11 bankruptcy protection Monday, with plans to close 142 stores in addition to 46 closings that had already been slated.

Bill Read, an executive vice president with Retail Specialists, said many of the Sears-related properties include large parking areas that gives developers more flexibility to bring in new uses.

“It is easy for Atlanta to survive without Sears,” Read said. For the best properties, the sites “will become something much better and productive for the malls and community they are in.”

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For more information related to SEARS bankruptcy, backfilling sites, and the ramifications on the market please contact our EVP:

Bill Read
Executive Vice President
Atlanta Office
bill.read@retailspecialists.com

Contact Bill Read

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