Sears Holdings announced a new batch of store closings and it appears the long anticipated closure of the Golden Triangle Sears location is finally here. After reporting dismal first quarter results, Sears announced a new batch of 72 Sears and KMart locations that will be shut down in September. According to the latest press release from Sears Holdings, the auto center at the Golden Triangle Denton TX location will shut down in early June. In addition to the Denton Sears closure, three other DFW stores will also be shut down in early September. Those Sears locations include the Lewisville location on Stemmons Freeway, the Fort Worth location on Green Oaks Road and the Cedar Park location on Lakeline Mall Dr.
As Amazon continues to eat away at brick and mortar retail locations, utilizing huge federal, state and local tax subsidies in the process, traditional retailers have been slowly vanishing from the landscape as their sales and profits dwindle. The Golden Triangle JC Penney store could be the next Denton Texas store to disappear as the U.S. retail carnage keeps piling up. The stock of both Sears and JC Penney is currently trading for less than $3 per share.
While I’m sad to see the Golden Triangle Sears shutting down, it does open the door to possible alternative uses for that real estate. The Golden Triangle Mall needs some new life, and a better anchor tenant would certainly help. Sears isn’t the only anchor tenant there in trouble . The mall received a major makeover back in 2012, and the H&M addition in 2015 provided a limited boost to an otherwise stagnating mall. It would appear the Weitzman Group will have their work cut out for them.
Liquidation sales at the Denton TX Sears area slated to begin as early as June 14th.