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Sears Canada (1952-2017)

  • Thread starter CanadianNational
  • Start date
Application: Sign Permit Status: Not Started

Location: 260 YONGE ST
TORONTO M5B 2L9

Ward 27: Toronto Centre-Rosedale

Application#: 14 201627 SGN 00 SP Accepted Date: Aug 5, 2014

Project: First Party New

Description: To erect and display two illuminated wall signs. **Sears**
 
androiduk said:
Application: Sign Permit Status: Not Started

Location: 260 YONGE ST
TORONTO M5B 2L9

Ward 27: Toronto Centre-Rosedale

Application#: 14 201627 SGN 00 SP Accepted Date: Aug 5, 2014

Project: First Party New

Description: To erect and display two illuminated wall signs. **Sears**
Click to expand...
Huh? I thought this was becoming a Nordstrom.
 
I don't believe there is any Sears retail space planned. It doesn't make sense. The signs are presumably for the head office upstairs, and presumably Cadillac Fairview will ensure that they are done in a way so as to not suggest that there is a Sears store in the mall's fancy new wing. Given the news reports from yesterday, it is possible that these signs will never be installed.
 
Skeezix said:
I don't believe there is any Sears retail space planned. It doesn't make sense. The signs are presumably for the head office upstairs, and presumably Cadillac Fairview will ensure that they are done in a way so as to not suggest that there is a Sears store in the mall's fancy new wing. Given the news reports from yesterday, it is possible that these signs will never be installed.
Click to expand...

Well - at a buck a square foot for office space and a convenient downtown location why would any new owner ever want to move the admin anyways. Though I could see that if HBC bought a portion of Sears (or some of their leases) and kept the TEC space then they could shift a lot of HQ staff down from the north west end of the city (Brampton I think?).
 
themarc said:
Well - at a buck a square foot for office space and a convenient downtown location why would any new owner ever want to move the admin anyways. Though I could see that if HBC bought a portion of Sears (or some of their leases) and kept the TEC space then they could shift a lot of HQ staff down from the north west end of the city (Brampton I think?).
Click to expand...

Doesn't make sense, if they got the space back they'd want to rent it out at a much higher comparable rate ... opportunity cost at play ... or convert it to retail if that makes sense.

I st
 
taal said:
Doesn't make sense, if they got the space back they'd want to rent it out at a much higher comparable rate ... opportunity cost at play ... or convert it to retail if that makes sense.

I st
Click to expand...

The 5th thru 7th floors the Sears office currently sits in is pretty lousy space for any retailer - I don't think CF would get top dollar from anyone with competition like Nordstrom and Old Navy right below - especially seeing that would be one hell of a long escalator to get people on to your sales floor. As downtown office space goes the legacy Eatons lease rate is a steal.
 
So, what happens if you put a chain up for sale and nobody wants it? Prospects don't look good.

Sears Canada auction flop darkens outlook
NY Post - 22 September 2014

Interesting tidbit:

“They’ve got valuable assets,” said one source, citing dozens of store locations that are still envied by competitors. [...] Lampert could be forced to sell off additional Sears Canada locations in the coming months — a move that would further accelerate the cash bleed, sources said.

What remaining Sears locations in the GTA would garner decent $? Who, other than a landlord wanting to break up the space, would be interested? (I'm not being sarcastic - I'm interested in people's opinions)
 
Sears still has several good locations, but at strong regional malls (not the destination malls like Eaton Centre, Yorkdale, Square One, etc)

- Bramalea City Centre
- Erin Mills TC
- Oakville Place
- Upper Canada Mall
- Oshawa Centre
- Pickering Town Centre

All of which are still strong in their markets, most recently expanded/renovated.
 
ShonTron said:
Sears still has several good locations, but at strong regional malls (not the destination malls like Eaton Centre, Yorkdale, Square One, etc)

- Bramalea City Centre
- Erin Mills TC
- Oakville Place
- Upper Canada Mall
- Oshawa Centre
- Pickering Town Centre

All of which are still strong in their markets, most recently expanded/renovated.
Click to expand...

Mostly good malls, but what I was really getting at was whether these stores would generate lots of $ for Sears. Who would take the space? Are there existing retailers who might grab the space as it is better than existing nearby stores? Are the stores configured in such a way that they could easily be broken up? I suppose landlords would presumably be willing to get rid of Sears and replace it with other retailers, assuming Sears is not performing well for them (which might be true, but we shouldn't assume for all of these malls), but would Sears get a good price, especially is there is not strong competition for the space?

A couple of those malls I would presume would command high dollars. Others I'd be less sure.

(These aren't loaded questions, by the way)
 
Last edited:
ShonTron said:
Sears still has several good locations, but at strong regional malls (not the destination malls like Eaton Centre, Yorkdale, Square One, etc)

- Bramalea City Centre
- Erin Mills TC
- Oakville Place
- Upper Canada Mall
- Oshawa Centre
- Pickering Town Centre

All of which are still strong in their markets, most recently expanded/renovated.
Click to expand...

I have no idea where any of these are located... I guess all in the typical North American suburban strip malls.
 
Skeezix said:
I don't believe there is any Sears retail space planned. It doesn't make sense. The signs are presumably for the head office upstairs, and presumably Cadillac Fairview will ensure that they are done in a way so as to not suggest that there is a Sears store in the mall's fancy new wing. Given the news reports from yesterday, it is possible that these signs will never be installed.
Click to expand...

maybe instead of "Sears", use "Sears Canada Inc." in a non-familiar colour/font. Consumers will generally not be interested in any Inc.
 
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