News


Pleasanton's Sears store to close amid company's bankruptcy

Stoneridge store to shutter by year's end; unclear how mall will replace it

The ramifications of Sears filing for bankruptcy will have far-reaching effects that are not limited to the national stage.

On Monday shortly after announcing that their company was filing for Chapter 11 bankruptcy protection, Sears Holdings officials confirmed that Pleasanton’s Sears in the Stoneridge Shopping Center would be closing before the end of the year -- along with 141 other Sears and Kmart locations nationwide.

"Over the last several years, we have worked hard to transform our business and unlock the value of our assets," Edward S. Lampert, chairman of Sears Holdings said in a statement. "While we have made progress, the plan has yet to deliver the results we have desired, and addressing the company's immediate liquidity needs has impacted our efforts to become a profitable and more competitive retailer.”

As a part of the company’s financial restructuring and liquidation process, 10 Sears and Kmart locations in California will be closed down for good, two of which are located in the Bay Area -- the other is a Sears in Santa Rosa.

While Pleasanton Sears employees declined to comment on the store's future, staff seemed surprised as numerous "now hiring" signs and banners were still on display throughout the store Monday afternoon.

A representative of Simon Property Group, which owns the Stoneridge Mall, declined to comment on the Sears news Monday afternoon.

It remains unclear how Simon might address the upcoming vacancy -- though the Weekly has previously reported that given Sears' struggles on a national level, discussions in Pleasanton have considered Nordstrom moving to the Sears building, freeing up more space for new retail, dining and entertainment on the Nordstrom side of the mall.

"While we are disheartened by the closing of our local Sears store, which has been an anchor at Stoneridge Shopping Center for many years, we look forward to working closely with the center’s owner Simon Properties on new opportunities and amenities," Pleasanton City Manager Nelson Fialho said. "As has been the case when individual stores have closed over the years, the quality of the center and of our community has continued to attract new retailers interested in opening in Pleasanton. We’re confident that Simon is committed to investing in Stoneridge and positioning the center for success long into the future."

Liquidation sales at the affected stores are expected to begin shortly, with the goal of all selected locations officially closing before the year ends.

“Our goal is to achieve a comprehensive restructuring as efficiently as possible, working closely with our creditors and other debt holders, and be better positioned to execute on our strategy and key priorities," Lampert said.

The mass of store closures comes of the announcement of 46 “unprofitable stores” in August -- those stores are expected to be completely closed prior to November's end, Sears Holdings officials said.

Other Sears stores remain open nationwide, as does Sears website sales, but officials have not ruled out the possibility of closing more stores in the future.

"As we look toward the holiday season, Sears and Kmart stores remain open for business and our dedicated associates look forward to serving our members and customers. We thank our vendors for their continuing support through the upcoming season and beyond. We also thank our associates for their hard work and commitment to providing millions of Americans with value and convenience," continued Lampert.

As a part of the company's bankruptcy filing, the Sears CEO has resigned and will be replaced by a team of three company executives, added Sears Holdings officials.

The departure of Sears marks the second large retailer to close its doors in the past several months. In August, it was announced that Orchard Supply Hardware would be closing down all 99 of its nationwide locations, including its Pleasanton and San Ramon stores.

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Comments

19 people like this
Posted by john
a resident of Dublin
on Oct 15, 2018 at 7:17 pm

costco should go here


13 people like this
Posted by Costco can move in there
a resident of Another Pleasanton neighborhood
on Oct 15, 2018 at 7:39 pm

I agree with John. The Costco should go in the soon to be vacant Sears store.


15 people like this
Posted by Michael Austin
a resident of Pleasanton Meadows
on Oct 15, 2018 at 8:32 pm

The above two posts are nonsense!
Costco will go to the location where the majority of voters in Pleasanton asked it to go!


5 people like this
Posted by Steve
a resident of Another Pleasanton neighborhood
on Oct 15, 2018 at 8:57 pm

Costco is perfect for that site.


4 people like this
Posted by Frankie
a resident of Alisal Elementary School
on Oct 15, 2018 at 9:06 pm

Frankie is a registered user.

The Mall is going down slowly. San Ramon’s new shopping area will take Pottery Barn, Williams Sonoma and others. Plus all the shoplifting, car break ins and occasional muggings. Put in mixed retail, office and condos for Workday and other Hacienda employees like the Santana Row shopping area and Broadway Plaza.


Like this comment
Posted by k
a resident of California Reflections
on Oct 15, 2018 at 10:45 pm

I agree COSTCO - Only problem is that Costco includes a gas station, car repair and parking would be a huge problem!


1 person likes this
Posted by Brad
a resident of Del Prado
on Oct 16, 2018 at 1:04 am

@k

That won’t do. According to Michael Austin and some others, cheap gasoline is Costco’s entire raison d'être.


18 people like this
Posted by Resident
a resident of Stoneridge
on Oct 16, 2018 at 6:51 am

Let’s put a Bloomingdales. We need to put more high end stores in our mall like Walnut Creek. Our residents have the money to spend at such stores and now everyone heads to Walnut Creek. Simon Malls it’s time to invest in Stoneridge!!


6 people like this
Posted by Neal
a resident of Canyon Meadows
on Oct 16, 2018 at 8:10 am

Costco would not go there. Coscto style is one-level shopping. Imagine people pushing carts up to the 2nd and 3rd level. LOL.

Since this property is within 0.5 mile from a BART station, BART can turn this into affordable housing as planned.


12 people like this
Posted by Duh
a resident of Highland Oaks
on Oct 16, 2018 at 9:10 am

It should become a BART parking lot.


2 people like this
Posted by Resident
a resident of Stoneridge
on Oct 16, 2018 at 10:15 am

No affordable housing.. we already have enough housing in Pleasanton . My childs school in Pleasanton is already overcrowded .


9 people like this
Posted by countingdays
a resident of Another Pleasanton neighborhood
on Oct 16, 2018 at 10:29 am

sad to see pleasanton going the way of so many beautiful and once beautiful towns in the area. it was inevitable. as far as costco, amazing what people will give up for gallon size ketchup bottle and 20 bucks off a tire. its like the song goes....


7 people like this
Posted by Schools Out
a resident of Golden Eagle
on Oct 16, 2018 at 11:11 am

It appears our City Planning Department and Elected Officials have no intention of slowing down the ridiculous rate of increased housing which has had and will continue to have a negative impact on our overcrowded structurully/technically antiquated schools so why not use the Location for a “new school”

It’s a location that will soon be available .......why not?!? There hasn’t been a logical consideration when the figure heads have been happily voting for more housing without reasonable planning

Ah, what the heck, I am being facetious - forget it. Let’s sit back for a few more years until the situation is Really bad and maybe the land near Sant Rita will look attractive.


Like this comment
Posted by Schools Out - update
a resident of Golden Eagle
on Oct 16, 2018 at 11:26 am

Sorry, my intended thought was the land near Santa Rita Jail........

Yes, I recognize that is in Dublin, but at the rate we are “growing” the need to look at how the district is laid out we may need to get creative.

Granted the Dublin residents rejected that location/site for a new high school for many reasons, one more obvious(near the jail)

But they too have been impacted by tremendous residential growth and poor planning to support additional students in their schools.

My hope is our leaders will learn from Dublin’s mistakes and begin to leverage practical, educated professional resources that Pleasanton Tax Payers deserve.

But Hope is not a Strategy.


3 people like this
Posted by Grumpy
a resident of Vineyard Avenue
on Oct 16, 2018 at 1:04 pm

Grumpy is a registered user.

Frankie is or will be right on this. The mall will slowly close unless it gets revitalized, and I think San Ramon stole that option by drawing the better stores away.


5 people like this
Posted by Alec
a resident of another community
on Oct 16, 2018 at 4:05 pm

Plans have been in place for a while to turn the Sears plot into a mixed-use development with an outdoor plaza and apartments over restaurants and retail. This is why Simon (the mall's operator) purchased the Sears building last year. The store's lease was up in the Spring of 2019 anyway, so the bankruptcy only sped things up.

Another idea I heard was being floated, but is still very speculative, involved consolidating the two Macy's stores into the women's building and building a new Nordstrom in place of the Macy's Men's store. Simon purchased the Macy's Men's store last year not too long after it purchased the Sears site, and would exchange the building for Nordstrom's existing store. This would allow the mixed-use development to envelope the eastern side of the mall, replacing both the existing Nordstrom and Sears.

While I agree that the mall has declined over the last several years, Simon has said that the planned Stoneridge revamp/expansion will be one of its largest projects in the upcoming years, specifically because of how strong the East Bay market is.

The idea of putting Costco in the space is asinine. Costco doesn't operate multi-level stores, and a building of their size (125,000 square feet at the least) wouldn't fit on the plot, as the building is 180,000 square feet over three levels.


2 people like this
Posted by Sarah
a resident of Canyon Creek
on Oct 16, 2018 at 9:45 pm

I’ve spoken with Simon today and yes they have plans to completly revamp the mall. It’s a long term project
they know they need to do.

All those who write here should stop by the information desk on your next visit to the mall. The more they hear it the more likely they’ll do it. Speak out our input is heard! There is no housing in the plan but upgraded shops. I advocated for more high end! We can afford it! All of us now head to Walnut Creek which is a 30min drive to get that. With more high end the clientele will be better. Sears didn’t do well in this market, more people buy high end like nordstrom.


2 people like this
Posted by Reality Bites
a resident of Del Prado
on Oct 17, 2018 at 10:49 am

Reality Bites is a registered user.

Someone mentioned above the idea of a movie theater had been floated but rejected due to traffic concerns. Is that accurate? How would a movie theater create more traffic than the current mall? There appears to be adequate parking that I have never seen full even during the holidays. A premium cinema with food and drinks like Cinepolis would be a great addition to the area and provide much needed entertainment options.


8 people like this
Posted by Frankie
a resident of Alisal Elementary School
on Oct 17, 2018 at 11:14 am

Frankie is a registered user.

CountingDays, wow, like the existing property where CostCo will go is soooooo attractive.

People!!!!! There is a growth management ordinance here. Yes, the State requies all cities to zone for their fair share of affordable housing which is 30 units per acre. Like apartments near BART. Even the City’s Kottinger Place and Case Avenue senior housing is at that level. The local ordinance requires 30 percent income restricted units which are subsidized by the City’s affordable housing fees.

Look at the entire Tri Vally, InterState 680 corridor and Bay Area for that matter. Its population growth and tech evonomy. Pleasanton is not an island and even if we did not build anything, we would still get the traffic.


4 people like this
Posted by Freeway Idea
a resident of Foothill High School
on Oct 17, 2018 at 10:25 pm

They should build the 580W to 680S flyover where Sears is. LOL


3 people like this
Posted by Realist
a resident of Harvest Park Middle School
on Oct 17, 2018 at 10:42 pm

Malls are passe with online shopping. Evolve or die.


1 person likes this
Posted by Map
a resident of Del Prado
on Oct 18, 2018 at 2:40 pm

Forget building any mega stack and pack housing unless they have a plan for busing school age kids out of town to another city that has room for our kids! More upscale storefronts would be great, along with a nice movie theater and maybe a couple additional restaurants but please get rid of those kiosks running down the middle of the 1st floor, it’s like running the gauntlet at the carnival.
Or as mentioned above build that better late than never 580/680 flyover


Like this comment
Posted by Fill the void with Fun
a resident of Hacienda Gardens
on Oct 18, 2018 at 4:03 pm

How bout replace it with something fun like John's Incredible Pizza Co. or Dave and Busters or some other Barcade kinda place? Indoor paintball maybe?


Like this comment
Posted by Commercial Queen
a resident of Alisal Elementary School
on Oct 18, 2018 at 7:25 pm

Commercial Queen is a registered user.

New Movie theaters have to be multi screen, mega complexes these days in order to be reasonably successful or make any type of profit. The competition from Regal would be very tough to overcome. The Livermore cinema was built in the former redevelopment agency with tax subsidies. Other cinemas are hanging on by a thread or as in the case of Blackhawk is supported by deep pockets.
The land where the mall sits now is way too expensive to do anything else other than a mixed housing retail and office development whether you like it or not. Perhaps even a inter-modal transit center should go there given part and the freeway interchange access. The flyover physically is not possible across the mall site The best we could hope for is a north to westbound fly over to alleviate the west to south traffic direction into Silicon Valley I like to dream about what could be there as well but we need to be realistic especially when hige expenditures have to be made. Given the circus over CostCo. I seriously doubt anything imaginative or worthwhile would be built at the mall.


2 people like this
Posted by Employee
a resident of Stoneridge Orchards
on Oct 18, 2018 at 8:37 pm

Hi All,

I like all the ideas, I work for Simon. The Simon Mall owns this land, and has plans to upgrade the mall, add food court and new stores. Housing would need to be approved by the city, given that the local elementary school is Lydiksen and is already suffering from crowding housing is not an option and again is not simons call, we have plans for upgrades.


1 person likes this
Posted by SUBURBIA
a resident of Alisal Elementary School
on Oct 18, 2018 at 11:11 pm

SUBURBIA is a registered user.

To Employee, good luck with that. A food court? Wow, not very upscale of Simon. I hope Simon’s plans at least include better security from car break ins, purse snatching and shoplifting. And please, paint stop bars at the end of parking lot aisles along Stoneridge Mall Road so cars dont over shoot and end up in that street. Better yet get rid of the hundreds of driveways out of the parking which makes for a circus. A redesign of the parking lot circulation to be in the 21st Century is overdue to help avoid gridlock during the Holidays. How about covered walkways with lights reaching into the parking lots to connect with the Mall entrances so women and seniors can walk safety at night and avoid rain. Shame I dont go to this Mall for all these short comings and prefer Walnut Creek where parking is lighted and there are no mega dark asphalt parking lots to hike. PS. And I feel safer.


2 people like this
Posted by Matt Sullivan
a resident of Stoneridge
on Oct 19, 2018 at 4:00 pm

Matt Sullivan is a registered user.

Amazon is putting brick and mortar retailers like Sears out of business. How long will it take for Costco to go the same route? Jeff Bezos gain will be Pleasanton's loss - in this case we will deserve it!


4 people like this
Posted by DKHSK
a resident of Bridle Creek
on Oct 19, 2018 at 4:13 pm

DKHSK is a registered user.

Matt,

Um...Costco is expanding...which means it's actually making a profit...which means there's no comparison to Sears.

A life working Government and its periphery has not served you well, my friend.

You can take a businessman and put him into a government position and he can get things done, but you can't do the opposite.

Your comment embodies that perfectly.

Well done!

Dan


4 people like this
Posted by Matt Sullivan
a resident of Stoneridge
on Oct 19, 2018 at 4:26 pm

Matt Sullivan is a registered user.

Hey Dan, I have spent 40 years working in the private sector, the last 10 as part owner of the company I work for. I haven't spent my "life working in government". The City council is essentially a volunteer gig, something people do because they want to give back to the community and aspire to a higher purpose than just making a buck. You should try it!


1 person likes this
Posted by Matt Sullivan
a resident of Stoneridge
on Oct 19, 2018 at 4:30 pm

Matt Sullivan is a registered user.

And I'm not your friend.


5 people like this
Posted by BobB
a resident of Another Pleasanton neighborhood
on Oct 19, 2018 at 5:51 pm

BobB is a registered user.

Costco, like Walmart are holding up well against Amazon. I don't see any reason to expect Costco to go the way of Sears any time soon.


5 people like this
Posted by frankie
a resident of Alisal Elementary School
on Oct 19, 2018 at 6:46 pm

frankie is a registered user.

Dear Mr Sullivan, like your previous dire and bogus predictions that Walmart and the extension of Stoneridge Drive would create Mayhem and a general degradation of our community, CostCo will not cause the traffic gridlock, air quality pollution, and economic blight that you claim. don’t you get tired of these antics because I know most people discount you.

I think its hilarious you never announced your insistence and support that Owens Drive be narrowed in order to get a mixed retail/housing development at the BART. not that I think its a bad idea at all, but you said nothing.
i also think its a hoot you have no problem with WorkDay and their thousands of employees (hint Matt, they don’t al ride BART) but criticize CostCo impacts.
Why don’t you use your energy for positive things like protesting IKEA and I580 gridlock instead.


3 people like this
Posted by Forecast
a resident of Birdland
on Oct 19, 2018 at 8:08 pm

Hey Matt. I hope your own business forecasts and predictions are better than your political ones for Pleasanton. You can only be wrong so many times before you are out of business.


Like this comment
Posted by DKHSK
a resident of Bridle Creek
on Oct 20, 2018 at 9:40 am

DKHSK is a registered user.

Matt,

'I have spent 40 years working in the private sector, the last 10 as part owner of the company I work for. I haven't spent my "life working in government".'

Ahhh...nice to know that you would prove the exception to the rule.

I guess not all businessmen turn out to be effective in Government.

Thanks for proving me incorrect.

Dan


1 person likes this
Posted by Doug
a resident of Birdland
on Oct 20, 2018 at 10:06 am

Matt, as is clearly evident by his posts, DKHSK is the resident troll on these forums. I just make fun of him and then ignore him. Suggest that you take a similar approach.


Like this comment
Posted by Alec
a resident of another community
on Oct 21, 2018 at 1:53 am

Simon has said to its investors that it intends to build mixed-use with residential on the Sears site. I'd assume that details will be shared when the company announces its financial results on the 25th, as it was mentioned as one of the company's largest upcoming investments next to projects in Atlanta, Pittsburgh, Philadelphia, and Southern California.

Whether residential actually makes it to the site, that's anyone's guess. Considering how combative people are being about simple things like a Costco, I have a feeling Simon will have to fight.

While I expect some new retail will be added, I highly doubt there will be a significant retail expansion.

Stoneridge's retail square footage is too large as it is, as evidenced by several spaces at the property remaining vacant or filled with low-tier tacky temporary tenants well past their initial lease terms. The former Wet Seal and Fossil spaces stick out as major examples, but much of the Nordstrom wing including the large former Limited and Bath & Body Works stores also stand out. Plus the Illuminations space, which has been empty or with temporary tenants since 2009.


3 people like this
Posted by Nicole
a resident of Another Pleasanton neighborhood
on Oct 21, 2018 at 6:38 am

I’ve been shopping at this Sears location ever since I moved here 14 years ago. And while I’m sad to see it close, I think they should utilize this space by putting in a Target store. One stop shopping would be great for shoppers.


3 people like this
Posted by Anony
a resident of Another Pleasanton neighborhood
on Oct 21, 2018 at 10:27 am

While it seems many in this town are opposed to any development whatsoever, be it Costco, new housing, or a new school, the mall would be the most logical place to put new housing. It is close to Bart and would satisfy the state’s housing requirement near mass transit.

If they condolidated all the shops in the nearby dying strip mall into the main mall, that would free up that parcel for mixed use housing/retail/commercial. World Market could move into the 1st floor of Sears, with JCPenney home store going into the 2nd and 3rd floors. The other small businesses can move into the mall or elsewhere. World Market would definitely bring more customers to the mall, as it still manages to draw customers to that nearly empty strip mall.

I would love to see that come to fruition! I admit I don’t shop at the mall enough, but I would if World Market were there. It also provides additional housing that could accommodate the Workday expansion and subsequent occupancy of the buildings Workday vacates.


10 people like this
Posted by Map
a resident of Del Prado
on Oct 21, 2018 at 6:49 pm

Just leave room for a Costco gas station and watch the slow death of the high Shell oil gas prices in this town.


1 person likes this
Posted by frankie
a resident of Alisal Elementary School
on Oct 22, 2018 at 4:38 pm

frankie is a registered user.

Matt Sullivan sure bought into protecting the Shell gas station owner and the limo fleet business next door (who must have a contract with Shell to gas up their vehicles).


Like this comment
Posted by countingdays
a resident of another community
on Oct 25, 2018 at 9:26 am

and why is that Frankie?
Never to be able to explain to some why open for the eye more appealing to they eye
than a side of a concrete bld.
Just the way it is. You have your view ,i have mine. Our commonality is we
can both move where we want for that better life.
Good luck


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