Sears Holdings files for Ch 11 closing 142 more stores before years end

[MagnusTheBrewer]

I understand the point of closing stores that are no longer profitable - but the problem is you have to do something to address the underlying problem, otherwise it's ultimately useless.

It's going to be a slow painful death just like all the previous like Toys R' Us.

The death of Sears was premeditated and abetted by the board of directors.

 

[Victorian Gray]

The death of Sears was premeditated and abetted by the board of directors.

That's what happened to Sears Canada as well. To the point that they deliberately sabotaged what seemed a credible effort to keep the company going.

 

[dawp]

I understand the point of closing stores that are no longer profitable - but the problem is you have to do something to address the underlying problem, otherwise it's ultimately useless.

It's going to be a slow painful death just like all the previous like Toys R' Us.

and Montgomery Wards back in the 90s, used to get quite a few of my clothes there.

 

[Puffnstuff]

and Montgomery Wards back in the 90s, used to get quite a few of my clothes there.

I loved to shop at MW and when I lived near KC, MO I shopped at their outlet store which had a huge selection and massive markdowns. Actually all major stores had an outlet store there. MW also had the auto service center and I used to have my car serviced there plus their tire warranties were very good.

 

[MagnusTheBrewer]

Many business failures are complicated, Sears, Wards and, Hostess failed due to simple greed.

 

[dawp]

Many business failures are complicated, Sears, Wards and, Hostess failed due to simple greed.

sears didn't really fail as the board was draining it to collapse, that was their intent, not to save but to bleed it dry.

in my eyes a failure is unintended, sears was intended not to survive.

not sure about the others but could be the same

 

[s0me0nesmind1]

Many business failures are complicated, Sears, Wards and, Hostess failed due to simple greed.

In regards to Hostess - I hope you mean greed on the union's part - right? https://www.forbes.com/sites/timwor...iring-95-of-the-union-workforce/#19e573224dbb

After Bankrupting Hostess, Union Workers Rake In The Federal Dough

Labor: Who says intransigence doesn't pay? After driving Hostess out of business by refusing to negotiate, union bakers have been rewarded by the White House with Trade Adjustment Assistance. It's... Read More

www.investors.com

 

[MagnusTheBrewer]

sears didn't really fail as the board was draining it to collapse, that was their intent, not to save but to bleed it dry.

in my eyes a failure is unintended, sears was intended not to survive.

not sure about the others but could be the same

You could call it a hostile takeover from within the same company.

 

[Thump553]

Out of curiousity I just checked via Google-there is one Sears store left in my state and two Sears outlets. I went to one of the outlets last summer looking for appliances-it was a ghost town.

I guess I will outlive the lifetime guarantee on all the Craftsman tools I've bought.

 

[andy2000]

...

I guess I will outlive the lifetime guarantee on all the Craftsman tools I've bought.

Not true, Craftsman was one of the first major assets to be stripped from Sears. They're owned by Stanley / Black & Decker and I believe they still honor the lifetime warranty.

Speaking of ghost towns, I was traveling to the San Francisco bay area recently, and went into a K-mart out of curiosity. It was the only place in the whole area that wasn't crowded. Strangely, even though the store was deserted, there was still a long, slow line at the only open checkout lane. I was going to buy a few things, but I didn't want to wait for 15-20 minutes since they only had half the items I was looking for. I ended up at a very crowded Target...

Based on the condition of that K-mart, they aren't even trying to stay in business. The store was dirty, dingy, and I couldn't find basic items.

 

[MomentsofSanity]

Not true, Craftsman was one of the first major assets to be stripped from Sears. They're owned by Stanley / Black & Decker and I believe they still honor the lifetime warranty.

Yup was going to post this. They are still available through a lot of major chain shores and the warranty still stands even though it originated with Sears.

 

[Puffnstuff]

Out of curiousity I just checked via Google-there is one Sears store left in my state and two Sears outlets. I went to one of the outlets last summer looking for appliances-it was a ghost town.

I guess I will outlive the lifetime guarantee on all the Craftsman tools I've bought.

They sold off Craftsman years ago to Stanley so your warranty is safe.

$900MM - Stanley Black and Decker Buys Craftsman

The tool giant Stanley Black And Decker buys Craftsman from Sears for $900 Million dollars. Where does Craftsman brand fit in the existing umbrella?

www.protoolreviews.com

 

[Perknose]

An employee at my local K-mart told me it's on the list for closing. If it's not a contradiction in term, it was actually a good K-mart. And, despite being stripped of some of the inventory it used to carry, like quart containers of motor oil, which I used to use my SYW points on regularly, it's actually gotten spiffier and more organized in the last year or so.

And it's always been well patronized. IF . . . the leadership gave a damn, this store should have survived. But they clearly don't. It has always amazed me to see families checking out clothes, but there you go, there's no accounting for taste.

The store closing will actually leave a bit of a retail hole in that it has always been well patronized.

 

[Puffnstuff]

Sears has just announced they are closing 96 more stores as they receive another $250M lifeline. To be honest I just don't see them remaining in business beyond next year. Look at the chart and those stores are all in very populated areas.

Sears owner gets $250 million lifeline, says it will shut 96 more stores—Here's where they are

The parent company of Sears and Kmart said Thursday it plans to shut 96 stores, leaving the business with 182 locations.

www.cnbc.com

 

[Puffnstuff]

The last Sears store here in Jacksonville announced their going out of business sale last weekend and when I went in there yesterday about half of the floor space has already been cleared. Overpriced tools and appliances along with some shoes and clothing still remain.

 

[hal2kilo]

and Montgomery Wards back in the 90s, used to get quite a few of my clothes there.

Good old Monkey Wards.

 

[hal2kilo]

An employee at my local K-mart told me it's on the list for closing. If it's not a contradiction in term, it was actually a good K-mart. And, despite being stripped of some of the inventory it used to carry, like quart containers of motor oil, which I used to use my SYW points on regularly, it's actually gotten spiffier and more organized in the last year or so.

And it's always been well patronized. IF . . . the leadership gave a damn, this store should have survived. But they clearly don't. It has always amazed me to see families checking out clothes, but there you go, there's no accounting for taste.

The store closing will actually leave a bit of a retail hole in that it has always been well patronized.

The one thing I found most useful at Kmart was there watch dept. It was easy to get a battery replaced while you waited.