Retail Roundup—Sears gets another extension; Zara to sell off 16 stores

Zara jeans
Zara is trying to sell 16 store locations in Europe.

Sears gets another loan extension

Although Sears has paid down $325 million in a loan originally due midway through 2018, the struggling retailer was given an extension for repaying the remaining $400 million. The loan, now maturing in January 2019, will help Sears gain some breathing room during the critical holiday shopping season. (Chicago Tribune)

Online shoe store opens first brick-and-mortar

Canadian shoe brand Native Shoes has opened its first brick-and-mortar store in its hometown of Vancouver. The minimalist space will feature natural wood sourced from local forests and sell footwear for men, women and children. (Footwear News)

Zara to sell off 16 stores

Zara's parent company, Inditex, is looking to sell off 16 store locations: 14 in Spain and two in Portugal. In hopes for a 20-year sale and leaseback agreement, the buyer would have the right to vacate the property after five years. The potential sale is part of a plan to make sure all of Zara's stores are operated through leases. (Bloomberg)

Gander emerges from bankruptcy

Gander Mountain has emerged from bankruptcy and is now named Gander Outdoors. Under its new look, the company hopes to open 15 to 20 locations by March and 40 to 45 more stores by October 2018. (Star Tribune)

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