Sears Hires Exec To Develop Shuttered Stores

David Lukes, CEO of Mall Properties, Inc., will be president of real estate development for Sears’ real estate business unit, seeking ways to use shuttered properties.

Sears plans to close as many as 120 poorly performing Sears and Kmart stores. In addition, it plans to shutter all nine of its Great Indoors stores and 53 specialty stores. These specialty stores are made up of small hardware stores, generally run by independent dealers in rural areas, and corporate-owned locations that sell Craftsman tools, DieHard car batteries and Kenmore appliances.

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