Posts tagged: North Division retail
The last two Spokane Old Country Buffet restaurants have closed as part of the parent company's Chapter 11 bankruptcy filing.
The company last week announced it will probably close up to 81 underperforming locations. The two Spokane locations were at 12205 E. Sprague and at 5504 N. Division. They were shut last week, with no plans to reopen, said a spokesperson.
Buffets, Inc., the head company, has operated close to 500 restaurants nationwide. It's based in Minnesota.
Its bankruptcy documents state plans to eliminate about $245 million in debt.
Here's a link to some of the financials involved.
The vacancy in the Valley is next to the open 10,000-square foot space last used by a Jo-Ann Fabric store.
Brokering that office space is Carl Guenzel of Kiemle & Hagood. Guenzel said he thinks now that the right tenant can work with both spaces which together equal about 25,000 square feet of good retail space. You check in with Guenzel on that possible space, he's at 755-7543.
Kmart and Sears Holding Co. officials on Tuesday confirmed that the Spokane North Division Kmart store will be closed in mid-November.
This is the location, at 6606 N. Division, where Lowe's is going to build a bigger, better hardware store for north Spokane residents. We had the original story on the plan more than a year ago.
Kimberly Freely, a spokeswoman for Sears Holding Corp., the parent company of Kmart, confirmed the operation will shut down, eliminating about 68 jobs.
“Those workers are encouraged to apply for openings with area Sears and Kmart stores,” Freely said, but she added she is not sure how many openings now exist.
“Those who qualify will also get severance, of course,” she said.
Freely noted no plans have been announced to add any other Kmart stores — a decision not very surprising considering the economic climate.
As the new Lowe's project moves forward, the other impacts will be eliminating the Life Center North Church, which occupies the former Lyons Avenue Cinemas building. A number of retail stores and the Szechuan Restaurant and Bar also will be demolished under the plan