29 November 2012, a retail real estate watchdog, CoStar Group, revealed that Sears, Kmart and even JCPenny have fallen behind in payments on loans they got back in 2010.

CoStar says about 24% of Commercial Mortgaged Backed Security (CMBS) loan payments are 30 to 90 days late, and that “…two of the largest three tenants were either a Sears, Kmart or JCPenney [mall] anchor.” 

There are other retail mall based businesses behind on their loan payments as well, click here to see the list.

In a report on The Consumerist, a frustrated Kmart shopper revealed that Kmart might be lying about their new no fees layaway policy: “…Kmart was not honoring the prices I agreed to pay or the no layaway service charge that is advertised on their website.”

She says she was told it was a software glitch, but when she tried to cancel the whole thing they wanted to charge a $10.00 per item cancellation fee!  She claims she even got a Kmart executive on the phone, but he hung up on her.

The Argus Press just posted a notice that Sears Holdings is looking for an independent owner to operate a Sears Hometown Store in Owosso, Michigan.