It's not just Sears and Kmart. It's regional companies like Art Van Furniture and the death of malls. Malls used to be everywhere. Now, they're disappearing faster then the downtowns they decimated 50+ years ago. Even 'upscale' malls, like Somerset Mall in Troy, Michigan are operating at 60-70% occupancy. Sears and Kmart were ruined in the '90s, when Wal-Mart came in. Same with smaller chains, like Service Merchandise and Montgomery Wards. Best Buy came in and ruined the regional and national brands like Harmony House, Peaches, Tower records. K&B Toys were acquired by Bain Capital (hello, Mitt) and went down the tubes pretty quick. It's a game to these hedge funds. You know what's replacing the acreage these malls once occupied? Fulfillment centers, Costco's and Sam Clubs.