• After CEO's bid fails, Sears will shutter it's doors after 126 years
    17 replies, posted
https://www.cnbc.com/2019/01/06/sears-rejects-eddie-lamperts-bid-to-save-company-will-liquidate-.html This goes for all Kmarts too.
Tbh I haven't been to one in years I haven't bought something from them in like a decade at least. Can't say I'm sad about this one.
I wonder how many will end up like the lot we have here. Empty and unused forever and ever.
I bought a whole new set of tires from them 2-3 months before they announced they were closing stores. :/
Unfortunately the writing was on the wall for a good decade now, if they wanted to survive and possibly thrive they should've started shifting to online only shopping and mail order (like their roots) back in the mid 00's. I could see its hard to work with because you're effectively decommissioning alot of capital in terms of the retail chains (which some of them could've been turned into regional warehouses to better serve the hypothetical ecommerce/mail-order side of things), but that's really what you have to do to survive into this century unless you're a big box store with groceries like Target or Walmart.
It was inevitable really. Department stores started dying long ago, once big box places like Wal-Mart came in. Should've made an effort to shift focus to online ordering if they wanted any chance of surviving.
Wow, I never thought the entire company would be brought down by just one Heely boi https://www.youtube.com/watch?v=RDc_Pl1ERUI
No creature can ignore it's environment. Adapt or die.
See the actual company wasn't stupid and wholeheartedly agreed with you and around the 2000's was starting to dig into e commerce prospects and would have most likely snubbed out amazon however Lampert had different ideas. Lamperts goal was to simply liquefy the company as the land, supplies, brands and warehouses sears had supposedly held more value in the short term than the annual profits the company generated. Lampert did not take into account the internet and E commerce when he made this decision otherwise he would have been the richest man in the universe at this point. Sears died to mismanagement because Lampert is a dumbass.
To everyone saying they didn't adapt, they did try in the early 2000's The Great Indoors (department store)
This part is really interesting about Sears' failure. It was more or less intentional, and its incredibly scummy. And it wasn't even the best outcome for him in the long run, but who cares, get rich now.
I never really got why they could claim their locations were worth billions, a giant brown big box store sitting empty or worse, attached to a half dead mall is practically a superfund site for investors. Sure they might want the land but only after someone removed the blight on top of it
10 years ago or so, it absolutely was true. Sears was heading downward, but it still had value, and I think that is was Lampert was banking on. Liquify it, while the brand and assets still had value. Now....I don't think anybody thinks highly of Sears as a brand anymore, or any of its sub brands. They aren't viewed as quality like they once were. For sure, Craftsman definitely isn't and Kenmore is usually just some clever badge engineering.
breaking news https://www.cnbc.com/2019/01/08/chairman-eddie-lampert-to-get-another-chance-to-save-sears-sources-say.html so uh ya. not closing yet
I told em, I told em they needed to put the King Dedede Eating While Drooling (KDEWD) merch back on the shelf. They didn't listen!!!
"your not welcome at sears anyways" lmao sears isn't welcome to exist anymore
That's how vulture capitalism works, aka Trump, Romney.
Just let it die it's not going to save itself at all.
Sorry, you need to Log In to post a reply to this thread.