A Sea Of Red

From WSET's Shelley Basinger on Twitter:

We just confirmed that Sears at River Ridge Mall is closing in January. 84 employees affected. Store sold to Liberty University.

What will LU do with that property?

Wow, didn't see that coming. LU also just bought a low-income apartment complex over off of Campbell Ave (can't remember the name of it). Don't know if that's been reported anywhere.

ALUmnus wrote:Wow, didn't see that coming. LU also just bought a low-income apartment complex over off of Campbell Ave (can't remember the name of it). Don't know if that's been reported anywhere.

They need to put the circle kids somewhere

http://www.wset.com/story/19901872/sear ... s-affected

Lynchburg, VA – Officials have announced that the Sears at River Ridge Mall in Lynchburg will close in January 2013.

Liberty University bought the store and has plans to redevelop the site.

Also, go to WSET's FB page story and read the comments. WOW!

Rooster Cogburn wrote:Also, go to WSET's FB page story and read the comments. WOW!

Keep in mind it's 11 AM. All the welfare queens and unemployment 99'ers just woke up. The rest of us who love Liberty are hard at work, doing our jobs. Bless they heart, the lazy layabouts have nothing else to do but make asinine statements on facebook.

Agreed...some very bitter people it sounds like...and from what I can tell, it sounds like the report is being spun that Liberty is behind the Sears closing as well

Somebody with commercial RE knowledge explain how LU can own that physical store and not the mall itself. I don't really understand that.

This kinda sucks though. I have a good amount of craftsman hand tools and I could just walk in there and exchange them if they ever broke. Also, most of Lynchurg's appliances come from there. I thought they were expanding their auto center. I know they were just hiring a bunch for it. A strange event indeed.

Yea from the tool and appliance angle I hate to see Sears go.

People are up in arms because the way that story is written, it sounds like Liberty bought it and gave Sears the boot. I wonder if that's what happened.

LUconn wrote:People are up in arms because the way that story is written, it sounds like Liberty bought it and gave Sears the boot. I wonder if that's what happened.

They complain about everything they do. If we even chop a tree down they scream.

Well, putting 84 people out of work is something to complain about. I just doubt that happened. LU owns a lot of commercial buildings and doesn't close them down. Hope there's further clarification

jbock13 wrote:

LUconn wrote:People are up in arms because the way that story is written, it sounds like Liberty bought it and gave Sears the boot. I wonder if that's what happened.

They complain about everything they do. If we even chop a tree down they scream.

I don't really get his move. Is it normal for schools to invest so heavily in local real estate? Seems like you could invest in more traditional investments and create a lot less controversy locally. I assume they are going to keep it as commercial retail space. So it's purely an investment, right?

It seems like sometimes Lib just likes to poke the dog with a stick.

PS. Our PR department deserves a gold star as always.

http://www2.wsls.com/news/2012/oct/24/3 ... r-2308331/

Company spokesman Chris Brathwaite says employees at the Lynchburg location in River Ridge Mall were told Tuesday that the store will close in late January 2013. "We made a business decision to sell the store in Lynchburg," Brathwaite stated.

Liquidation sales will begin in early November. Eligible employees will receive severance, and can apply for other open positions at Sears and Kmart stores.

Honestly, I enjoy these things just to watch the liberals and social gospel Christians squeal like stuck pigs.

I'm not gonna lie.

09, I agree but let's see what the plan is for the project.

I love how some of these people are completely clueless. Sears is closing 100-150 stores nationwide, not just Lynchburg but Martinsville, Norfolk and other localities.

The real estate investment is also a creative idea for generating cashflow and enabling the university to have real assets. IMO, this puts us ahead of the curve of other, more established colleges and universities in finding other sources of funding for operations outside of students and government loans/grants, just like we were ahead of the curve in online education which helps to keep costs down as well.

ALUmnus wrote:Wow, didn't see that coming. LU also just bought a low-income apartment complex over off of Campbell Ave (can't remember the name of it). Don't know if that's been reported anywhere.

It hasnt been because it didnt happen. LU was offered the complex by the owner but the university declined

Sears was closing anyway.

and wow bunch of idiots on FB. Can't wait to see their reaction when Liberty reopens the place up with more jobs.

This is obviously a company wide move to shed real estate, as opposed to one of the closings that had been highly publicized last year and this past spring. I'm sure that there might be some issues with traffic and I doubt that River Ridge has the traffic that makes Sears want to stay, as they have done elsewhere. Had there been a lease, I'd bet Sears would carry on, but it seems as though twenty years has been the magic number for Sears locations- same thing happened in Roanoke when Sears moved to Valley View- we just don't have a good alternative for a new location. There have been some new movements on a large (100+ acres) parcel of land zoned for retail that is bounded by 501 and Lakeside Dr., so maybe we will see a Sears in Lynchburg again. I'd feel pretty sure the market could support one, but maybe not in the current dingy store with such a large footprint that is attached to such a poorly performing mall.

I hate the comments on the N&A and whatnot but for some reason, people posting under their real identities on fb doesn't bother me in the least. It's actually kind of funny seeing how they try to spin it. I did just read this comment though: "just heard the latest news. Liberty is going into the retail business and using that space for a Bass Pro Shop." probably just a guy trying to be funny, but that would be so awesome. It's always amazed me that one of the big outdoor chain stores is not in Lynchburg.

Im not gonna lie, that would be awesome to see Bass Pro here. Heaven knows we have plenty of hunters and fishermen around

Bass Pro stays close to the interstates. They are building one in Bristol (as is Cabelas). I don't see another one going up in this area any time soon. If they do, Roanoke would be more likely.

Civic Center is the plan

http://www2.newsadvance.com/business/20 ... r-2308187/

There's a parking deck in that photo!

ballah09 wrote:Civic Center is the plan

http://www2.newsadvance.com/business/20 ... r-2308187/

No tax dollars for the pad, but a hotel would help offset, plus imagine how traffic for the mall might change.