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Sears signed the lengthy lease for cheap in 1991. The retail titan was given discounted rent as a powerhouse department store chain that served as a foot traffic driver for the mall.
On Oct. 14, the Livingston Town Council passed a resolution that designates the mall as a condemnation area in need of redevelopment – and authorizes the use of eminent domain.
The mall argues the bankruptcy court overseeing the Sears restructuring erred in giving Transform control over Sears’ lease at the Mall of America for two reasons. First, the original contract ...
Sears manager Paul Hawkins said Sears had considered moving to the mall as early as 1989. "So I'm sure that it's an option," Hawkins said. "It seems like it's always been an option." ...
The owner of a closed Sears store in Michigan is asking a judge to stop the adjacent shopping center's demolition, alleging that the city and the mall violated property rights. Why It Matters ...
Sears, once one of the country's most dominant retail giants throughout most of the 20th century, has greatly struggled to adapt to the rise of the Internet and e-commerce in the 21st century.