KMART NOT INTERESTED IN CAPE VENTURE STORE SPACE

Kmart Corp. will lease the majority of space that Venture Stores Inc. will abandon when Venture completes its liquidation of the company's stores nationwide.

But Cape Girardeau and Paducah, Ky. are not among areas being leased by Kmart, said Dan Jarvis, a Kmart spokesman, Wednesday.

Kmart will lease 46 of the current 73 Venture stores, including several in the St. Louis area, including Crystal City, Mo., and Belleville, Ill.

"New Kmart operations will be opening in nine St. Louis areas this fall," said Jarvis. Most of the location will open as "Big K's," in the 100,000 to 120,000 square foot range.

Kmart has a free-standing operation in Cape Girardeau, at 22 S. Kingshighway.

The local Venture store, which opened here in 1984, occupies 80,000 square feet, but could be expanded to as much as 120,000, said Jim Govro, West Park Mall manager.

Venture was one of three anchor stores at West Park Mall, along with Famous Barr and JCPenney.

The Paducah Venture operation, in Kentucky Oaks Mall, is also in the 80,000 square foot range and was an anchor store..

"We don't know who will be filling the space at Kentucky Oaks," said mall manager Charles McGuire.

The situation is the same in Cape Girardeau.

"We've talked to some people, but at this point, we don't know," said Govro.

Kohl's Department Store is one possibility for Cape Girardeau.

The 200-store, family oriented specialty department store, sells apparel, shoes and accessories for men, women and children, along with housewares and soft goods, is a 200 store chain.

Kohl's is on the list of retail companies who work with Kimco Realty Corporation for retail space.

Under terms of an agreement detailed in a motion filed in U.S. Bankruptcy Court, Venture assigned lease rights of its 73 locations to Kimco in April.

Venture closed an operation in 1993 when it announced closing 20 stores.

"Kimco has received a number of inquiries from a number of retailers," said Christine Davies, of Sternon Co., a New York City firm which represents Kimco in public relations and other corporate matters.

"Kimco has great working relations with several retailers," said Davies. "And, Kimco is optimistic of `re-tenanting' all the Venture stores which are not leased by Kmart."

"The time frame is difficult," said Davies. "Liquidation sales are still going on at most of the Venture sites, and are likely to continue into August."

Kohl Corp., headquartered in Menomonee Falls, Wis., is looking at new locations in the St. Louis area, and is one of the companies working with Kimco.

West Park Mall officials have been in contact with other potential retail operations, who wish to remain anonymous at this time.