Sears Just Reopened 2 Stores – Could They Return to Illinois?
It's a dangerous thing to draw conclusions too quickly. This is a perfect example. It is true the Sears just reopened two stores. Many now are speculating that the famous retailer could return to Illinois, but is there any truth to that thought? Not so fast.
First, let's focus on new facts. CNN Business reported that Sears just opened two previously closed stores. One is in Burbank, California and the other is in Washington state. They then asked the question "What's behind the comeback?"
Let's revisit some history. Sears was very much an Illinois company. The Sears Tower (now the Willis Tower) is an iconic part of Chicago's skyline. And, the last Sears store to close prior to the recent reopening on the west coast was in Schaumburg, Illinois.
As 24/7 Wall St reported, Sears filed for bankruptcy back in 2018 and the retailer was all but gone. Does this reopening mean Sears is destined to return to the Land of Lincoln? Spoiler Alert: probably not.
CNN Business says almost certainly not. The theory goes like this. The Sears stores that reopened likely had leases they were having a hard time selling which translated into them trying to monetize the locations that were making no money.
The most likely conclusion is this. Sears is almost certainly not coming back to Illinois. What we're likely seeing with these two new store openings is a last gasp from a company trying to make a dollar any way they can. Can't blame Sears for trying.
A Look Inside and Around a NJ Sears Store That Closed in 2018
Gallery Credit: Chris Coleman