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Sears Is Dead — Long Live Sears!
Investor´s Business Daily, by Staff

Original Article

Posted By:RockyTCB, 10/16/2018 10:18:25 AM

Sears, RIP: Bowing to the inevitable, Sears´ owners on Monday filed for Chapter 11 bankruptcy. Yes, it´s a sad day for the 126-year-old company. But it´s not a tragic story, for it underscores the underlying vibrancy, innovation and creativity of American capitalism. Monday´s filing came as Sears faced a deadline for payment of $134 million on its debt. It didn´t have the money, so it filed for protection from its creditors. Eddie Lampert — the largest shareholder in the company, with nearly half its shares — stepped down as CEO. By the end of this year, Sears will be a much-diminished company.

      


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Reply 1 - Posted by: MDConservative, 10/16/2018 10:50:17 AM     (No. 11798826)

Ironically, Sears built its business with mail order from catalogs...and is being killed off by its inability to adapt to the Amazon on-line model. JCPenneys is not far behind.

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Reply 2 - Posted by: ginadee, 10/16/2018 11:56:20 AM     (No. 11798925)

Probably in another 50 years brick and mortar
stores will be on the rise again as internet sales begin to decline. It´s a vicious circle.
Au revoir Sears. Till we "shop" again.






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Reply 3 - Posted by: jacksin5, 10/16/2018 12:04:04 PM     (No. 11798938)

Walk through any major mall. the specialty shops that used to occupy most of the storefronts are gone, due to the high rents charged.

This left the Anchor Stores, Sears, Macy´s etc. Trying to make money in a ghost town.

Add to this the other reasons listed by other posters, and the end was inevitable.

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Reply 4 - Posted by: Smart11344, 10/16/2018 12:50:27 PM     (No. 11799014)

Another American Icon gone. Poor management? Inferior products? Amazon? Ebay? Walmart destroyed many mom and pop stores across America. Walmart once touted they only sold Made in America products. Certainly not anymore. I don´t shop Walmart because the closest one to me is 15 miles away and it was a dump. Much to my surprised theyn remodeled it. A friend dragged me along to Walmart and I was shocked at the physical improvement. Same lowfife´s working there and ditto for many of their toothless customers.

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Reply 5 - Posted by: Heraclitus, 10/16/2018 1:18:10 PM     (No. 11799049)

Started sensing big problems when the service end of the operation began to become haphazard and then non-existent. Same thing in-store, too.

Worst thing for a business is to be short-staffed.

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Reply 6 - Posted by: Robert Jones, 10/16/2018 1:56:30 PM     (No. 11799100)

Why oh why did they give up their catalogue sales and emphasize brick and mortar when the whole world went to online shopping? Their catalogue shopping was a natural for the internet.

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Reply 7 - Posted by: JHHolliday, 10/16/2018 3:19:50 PM     (No. 11799151)

Agree with #6, They already had thousands of customers used to ordering ´online´ so to speak and wait for delivery. Sears would have been a natural for the internet.

Amazon is vulnerable though....someone is likely to figure out a better, cheaper faster way in the future. They would also be in big trouble along with other internet retailers if the internet were to go down for an extended period...EMP, cyberattack, etc.

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Reply 8 - Posted by: Judy, 10/16/2018 3:26:43 PM     (No. 11799156)

When we were married 54 years ago Sears was the only store that would give us credit...they were an icon! I sure will miss them!

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Reply 9 - Posted by: Yorkiemom, 10/16/2018 5:00:36 PM     (No. 11799265)

Almost everyone in my family worked at Sears at one time or another. One uncle was a big executive. He had tons of stock when he passed away which made my dad, his brother, and his two sisters very comfortable in their retirement years. We loved going to Sears.

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Reply 10 - Posted by: LoneVoice, 10/16/2018 7:40:45 PM     (No. 11799421)

Eddie Lampert stepped down as CEO but remains the chairman of the board. A competent bankruptcy judge would remove Lampert entirely. He´s an incompetent parasite who has devoured Sears and Kmart for over a decade.

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