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Sears, once the world's biggest retailer, now faces bankruptcy

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rjohnson11
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2018/10/10 09:31:23 (permalink)
https://www.nbcnews.com/business/business-news/125-year-old-sears-file-bankruptcy-report-n918446?cid=sm_npd_nn_fb_ma
 
The company, which hasn’t turned a profit since 2010 and is $134 million in debt, recently approached several banks to prepare for bankruptcy filing. The 125-year-old company has shut down over 100 stores in the last year, with 46 stores set to shutter next month alone. Sadly they did not embrace e-commerce like Target and Walmart. What a great loss.

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    RushXTC
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 12:20:24 (permalink)
    That's old news lol, It was called when they had to sell Craftsman, Which was where the majority of their profit was coming from.

    #2
    atfrico
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 12:26:41 (permalink)
    Its called due to Walmart

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    Cool GTX
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 12:45:46 (permalink)
    The Value of SEARS holding - is the real estate they hold
     
    Their business model - well that has gone the way of the dinosaur

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    Chaos_21
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 16:11:36 (permalink)
    A company needs to adapt and evolve with the needs of the consumer.
    Sears seen it coming 20 years ago, its their own fault.

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    XrayMan
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 22:26:04 (permalink)
     
    Used to go there a lot many years ago. Now I mainly go to Harbor Freight, Walmart, Best Buy, and Fry's.

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    rjohnson11
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 22:48:45 (permalink)
    Sears will be missed. 

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    Killmur
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/10 23:05:15 (permalink)
    Sears will be forgotten and hardly ever remembered just like Circuit City was. Also that so called rebranding of Toys R Us is gonna fail hard and they'll be nothing but a distant memory as well.
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    wmmills
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 03:21:29 (permalink)
    My great grandma and grandpa both worked there for 30 years and retired out with handsome packages. My house was built from a Sears kit in 1905 too by my fathers uncle and so was his mothers house. Sears was just so huge years ago its hard to imagine them just gone. Kind of a shame they didn't get with the program when the internet store fronts started getting big. I guess its goodbye to another legend.

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    Viper97
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 04:06:48 (permalink)
    rjohnson11
    https://www.nbcnews.com/business/business-news/125-year-old-sears-file-bankruptcy-report-n918446?cid=sm_npd_nn_fb_ma
     
    The company, which hasn’t turned a profit since 2010 and is $134 million in debt, recently approached several banks to prepare for bankruptcy filing. The 125-year-old company has shut down over 100 stores in the last year, with 46 stores set to shutter next month alone. Sadly they did not embrace e-commerce like Target and Walmart. What a great loss.


     
    The store just hasn't been the same since Sears killed off Roebucks. 





     
    #10
    aka_STEVE_b
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 08:32:32 (permalink)
    the tools were the best &  the warranty

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    knightsilver
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 10:08:48 (permalink)
    Use to love Sears and Radioshack, if you dont keep ur values that made you awesome in the beginning, you will fail...
     
    Craftsman use to be the only tools I would use, then their QC went down hill, then u had to fight over ur tools warranty with the local sales rep. Its their own damn fault for crap product and crap service.... 


     
     
    #12
    the_Scarlet_one
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 10:42:35 (permalink)
    Sears in Dover De was shutting down because of their losses and doing “Massive Sales!” to get rid of inventory. By massive, they meant 15-30% more than standard list prices with absolutely NO Price matching at all. Get rekt sears. Shouldn’t have been greedy.
    #13
    fearpoint
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 11:27:03 (permalink)
    Companies come and go. Walmart is absolute trash and Target is for women.
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    ILikeBeans
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 12:36:09 (permalink)
    wmmills
    My great grandma and grandpa both worked there for 30 years and retired out with handsome packages. My house was built from a Sears kit in 1905 too by my fathers uncle and so was his mothers house. Sears was just so huge years ago its hard to imagine them just gone. Kind of a shame they didn't get with the program when the internet store fronts started getting big. I guess its goodbye to another legend.


    Wow that's crazy! I will miss Sears, I bought appliances, tools, work clothes and boots, I liked them even up till the end.
     
    Just bought a new range at the Sears Outlet over here for a condo I'm going to sell. Saved $417, Thanks RJ for the heads up!
    post edited by ILikeBeans - 2018/10/11 13:16:24

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    Brad_Hawthorne
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 13:23:23 (permalink)
    Sears is a product of 1892, and has adapted accordingly. 
    #16
    Hoggle
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 15:33:19 (permalink)
    Sears business model really wasn't the problem the issue is they didn't take what made them great in the first place and adapt it. The Sears catalog and Holiday Wishlist was basically the internet before the Internet existed. If in 1995 Sears had built a website and done a digital copy of the catalog that made the company famous we would be talking about buying products from Sears.com not Amazon.com. It was a major failure to not adapt the core values of the company to the digital world.
    #17
    delta7
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/11 22:22:02 (permalink)
    This thread has brought back memories I haven't thought about in a long time. Getting the Sears and JC Penny Christmas catalogs was one of the best days of the year when I was a child. Would go straight to the toy section.   Makes me sad they are going bankrupt. Hoggle hit the nail on the head, the world changed and Sears didn't.

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    wmmills
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/12 11:24:05 (permalink)
    ILikeBeans
    wmmills
    My great grandma and grandpa both worked there for 30 years and retired out with handsome packages. My house was built from a Sears kit in 1905 too by my fathers uncle and so was his mothers house. Sears was just so huge years ago its hard to imagine them just gone. Kind of a shame they didn't get with the program when the internet store fronts started getting big. I guess its goodbye to another legend.


    Wow that's crazy! I will miss Sears, I bought appliances, tools, work clothes and boots, I liked them even up till the end.
     
    Just bought a new range at the Sears Outlet over here for a condo I'm going to sell. Saved $417, Thanks RJ for the heads up!


    Yeah it is. They sold pretty much anything and everything. My great grandparents both retired out in the early 70's from Sears so it was a whole different company and experience back then. Like Delta brought up, well im sure most of us in here remember it, getting those absolutely gigantic holiday catalogs from them and pennys etc.... when your a kid looking through those things you couldn't believe there was so much stuff!!! :P

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    MSim
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/12 13:07:34 (permalink)
    Most of us knew Sears was doomed over 3 years ago. Clothing racks spread out to make it look like they had more clothing. Appliance and electronic department not having that many products. The craftsman tools section wasn't kept stocked up like it use to be.  
     
    Sears failed because they quit caring about the customer. The company use to have a money back guarantee back in the day. People notice the decline in Craftsman tool quality, after they move production out of the US. That with home improvement stores selling same quality of tools and warranty for less money.
     
    With so many iconic retailers going under, how long until we see more Malls closing in the US. Now that Sears will be closing, i have no reason to visit any of the malls near me.
     

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    #20
    HaywireHaywood
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/12 18:30:38 (permalink)
    I've still got the socket set that I bought back in the early 90s.  It's never let me down (well, except for that one half inch drive socket handle that I put a 4' cheater pipe on and then put my weight against LOL)  I've heard that the new craftsman tools aren't of the same caliber.

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    fearpoint
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/12 18:47:57 (permalink)
    As a middle aged white man "the mall" has nothing that appeals to my interests. It's hard enough to find semi decent non hipster clothes already. 
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    burts
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    Re: Sears, once the world's biggest retailer, now faces bankruptcy 2018/10/13 19:58:40 (permalink)
    Im from maui which is very small Qand sears has always been a big part of everything here growing up,  When they close they surely will be missed..
     
    In fact my sony xbr55x900a was purchased there....    😓

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