The Milwaukee Post

6 • Milwaukee County Post • May 5, 2017 Sears to close auto center at Brookfield Square By DAVE FIDLIN Special to the Post BROOKFIELD — For decades, it was a go-to place to have your oil changed, brakes replaced and tires rotated. But the Sears Auto Center, a mainstay at Brookfield Square since its opening in the late 1960s, will be closing at the end of the month. Hoffman Estates, Ill.- based Sears Holding Corporation, which owns Sears and Kmart stores across the U.S., announced recently it will be closing 50 Sears auto centers and 92 Kmart pharmacies this month in its latest effort to stay afloat amid years of red ink. Once Sears closes its Brookfield Square auto cen- ter, one will still remain in operation in metro Milwaukee at Southridge Mall in Greendale. Edward Lampert, CEO of SHC, described the ancillary auto centers and pharma- cies slated for closure as "underperforming" in an April 21 news release. The company has yet to publicly issue a formal com- pilation of all the auto cen- ters and pharmacies clos- ing. When asked by email Monday, however, SHC spokesman Howard Riefs confirmed the Sears Auto Center at Brookfield Square is on the list. "That auto center loca- tion will close in late May," Riefs said in answer to a question about its status. "The store itself will remain open." Struggling SHC has been closing scores of Sears and Kmart stores across the country. About 1,300 stores under both brands current- ly remain in operation, down more than half from their combined footprint just five years ago. Lampert in the statement said SHC is attempting to cut $1.25 billion in costs this year as it tries to again achieve profitability. "Earlier this year, we ini- tiated a strategic restructur- ing program and committed to improving our operating performance and financial flexibility in a very chal- lenging retail environ- ment," Lampert said in the statement. While SHC has no con- crete plans to close the main Sears store at Brookfield Square, its status as one of the mall's three anchor stores is fluid because of a sale-leaseback agreement that was inked in late January. Chattanooga, Tenn.- based CBL and Associates, which owns Brookfield Square, purchased the Sears building as part of a large- scale sale-leaseback. Brookfield Square was one of five Sears stores CBL pur- chased at its properties across the country at the time of the announcement. While SHC received a cash infusion for the sale of the Sears buildings, the company is now responsible for making rent payments to CBL for the duration of Sears' operations at the malls. While CBL will continue its relationship with Sears for the time being at Brookfield Square, all signs point to change on the hori- zon. In February, Stacey Keating, director of public relations with CBL told Conley News Service, "CBL's purchase of the Sears store allowed us to recapture prime real estate for future redevelopment. There are no plans for Sears to close at this time, and the store will continue to oper- ate as normal." BUSINESS Farrow joins Milwaukee 7 as co-chairman for 2017-'19 WAUKESHA — Waukesha County Executive Paul Farrow has joined the Milwaukee 7 Regional Economic Development Partnership as a co-chairman for 2017-'19. Farrow joins Milwaukee Mayor Tom Barrett, WEC Energy Group Chairman Gale Klappa and Fiduciary Management Executive Chair Ted Kellner as a fellow co-chairman. "At its heart, this regional collaboration is focused on expanding and attracting corporate investment and jobs to the M7 region. We look forward to adding County Executive Farrow's experience and voice as a co- chair," said Klappa. "I look forward to working with my fel- low co-chairs and all of the counties to help ensure the region is both shovel-ready and talent-ready. We make a stronger case and provide a more effective response as seven counties united around a single goal," said Farrow. "M7 connects each of the counties in this region to worldwide opportunities for growth. I appreciate the value of con- necting our county's efforts globally." Launched in 2005, Milwaukee 7 was cre- ated to support a regional, cooperative eco- nomic development platform for the seven counties of southeastern Wisconsin: Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha. According to its website, the group's mission is to attract, retain and grow diverse businesses and talent. Keller Inc. to remodel Lucky Petroleum and Quality Diagnostic Imaging MILWAUKEE — Keller Inc. announced it has been hired to remodel a store for Lucky Petroleum in Milwaukee and build an interior remodel for Quality Diagnostic Imaging in Oak Creek. Construction will begin in May on the Lucky Petroleum remodel at 3725 S. Howell Ave. It is expected to be completed in August. The work will be done under the direction of Keller project manager Dave Uttech and architect Rob Lindstrom. The work on Quality Diagnostic Imaging, 440 West Bell Cour, will start in June and is expected to be completed in August. It will be directed by Keller project manager Jim Dallas and architect Chris Manske. Keller Inc. is employee-owned and has offices in Milwaukee, Madison, Wausau and the Fox Cities. www.kellerbuilds.com Roadrunner Transportation announces new management, $540 million investment CUDAHY — Roadrunner Transportation Systems, Inc. announced a new management team Tuesday. Mark DiBlasi was removed from his role as CEO of the company and will now instead work on an interim basis as the vice chairman of the board, a news release said. In DiBlasi's place, Curt Stoelting will be the CEO. Mike Gettle will also serve as president and chief operating officer, Scott Cousins will be the chief information offi- cer, and Bob Milane will be general counsel and chief compliance officer. Roadrunner plans to hire a new chief financial officer in the "near future." The news release also said that it's received a $540 million investment from Elliott Management Corp., a hedge fund management company based in New York. The company holds about 8.6 percent of Roadrunner's common shares. Proceeds from the investment were used to pay off and terminate the company's senior credit facility and support the company's opera- tions and potential growth. WEC Energy exceeds 1Q earnings expectations MILWAUKEE — Despite warmer-than- usual weather We Energies parent WEC Energy Group Inc. reported higher earn- ings than last year in its fiscal first quarter Tuesday. The company reported a net income of $356.9 million ($1.12 per share) in the quar- ter, an increase of 2.75 percent when com- pared to 1Q 2016 ($346.5 million). WEC Energy saw its revenue increase to $2.3 bil- lion in the quarter, a 4.5 percent rise from the $2.2 billion from last year. For the year, WEC Energy projected that it expects to earn $3.06 to $3.12 per share. Dave Fidlin/Special to the Post The Sears Auto Center at Brookfield Square will close in late May. Southridge Mall auto center only remaining in one metro area Farrow

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