Old Hickory Mall anchor store to close in 90 days, and another is on the brink

December 28, 2018

They dodged the bullet multiple times, but on 12/28/18, it appears they were hit. The Jackson location of Sears will be closing in March.

 

The retailer that, at one time was the nation's largest, has been weighing closing up to 80 more stores, in their attempt to stay alive. Sears' chairman, Eddie Lampert, has been trying to put together the financing in order to buy the company out of bankruptcy. This latest round of announced closings includes the Jackson location. Altogether this year, Sears has announced plans to close more than 250 of 700 locations.  Read more about the latest list of closings here.

 

One of the mall's other anchor stores may be on the verge of trouble as well...JCPenney stock fell below $1 Friday (12/28). Their stock hasn't fallen that low since it debuted in the 1970's. The retailer is struggling after turning in weak results for its latest quarter (revenues declined 5.8%,and comparable sales fell 4.5%). Local speculation is that the Jackson store has remained open primarily because the current CEO is from nearby Brownsville. How long it can remain afloat is unforseen.

 

Businesses struggle just like regular folks do. If you find that you personally are dealing with stifling financial problems, call the law office of T. Verner Smith.


We have helped thousands of Tennessee residents deal with the intricacies of bankruptcy. Our trained staff answers any questions and addresses any concerns you may have. Yes, we offer multiple options for debt problems, one of which is bankruptcy. We will help determine which is the best course of action for your specific situation. We will get you up to speed on the choices you have, in plain and simple language, and when you decide, we will help you through the process step by step.

 
Call or email us to schedule a consultation. There are only a few items we will ask you to bring to begin the process, and you'll be amazed at how much better you feel just taking that first step to a solution. Email us by clicking here, or call us at (731) 423-1888, (901) 730-4567, or (615) 371-6136.

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