What is it about Sears death spiral that makes it so sadly interesting?
Me: hoping a newco of 400 stores can go forward, knowing that it can't.
12 replies (most recent on top)
All things come to an end eventually. Sears is over. Let it go. It's time to move on.
The Sears of old is completely dead. The Sears--as created by Eddie--needs to die.
After 20 years with the company I'm sad to see it go. However in the last 10 years I'be witnessed a sad, excrutiating decline that can be blamed on execs' failure to understand and respond to retail environments. They basically made every wrong decision they could.
That said, I don't wish for its downfall. I just know that the id--ts in charge are clueless and incapable of doing anything to stop it. Especially given the fact that they all get bonuses when the company goes under.
Sears is finished. It’s just a matter of time before they are forced into chapter 7. I hope that 60 Minutes gets a lot of dirt on how everything went down and ends up camped outside Eddie’s mansion south of Miami hounding him for an interview, then when he refuses, they can broadcast all the underhanded things he did to strip the company to nothing.
"Craftsman is gone. Kenmore gone."
Huh? Sears no longer owns Craftsman but it is going to continue happily selling at Lowe's under Stanley's ownership, regardless of what happens at Sears. And Kenmore is still owned by Sears, and eventually someone will buy the brand (even if at pennies on the dollar during liquidation) and keep it going too.
I wish they wd pull th plug especially after the news of those top 18 sharing $10 million in bonuses while the grunt worker gets their severance pulled!!
Wrong in so many wats
This is interesting because, unlike some large chains, Sears was retail. An anchor store in many malls. It also proves nobody is too big to fail. I have no ill against Sears but it is what is happening on the larger scale that is fascinating. Craftsman is gone. Kenmore gone. i’m Sure this will be studied for decades in business schools.
Sears has a huge history, and as much as I would like to see it survive I think it is done for. The only way I can see Sears continuing is if the name is bought by another company, and they start from scratch. The stores are too worn out to try to revive. At this point the best thing to do is to got them and completely refurbish them. That of course cost money that Sears does not have. Some malls are taking advantage of big anchor stores like Sears and Macy's pulling out to cut of those the blocks of space into smaller stores or do you use them for things that draw in more people like medical Suites for doctors and dentists, gyms, Grocery stores. Things that people go to on a regular basis. I've even heard of some malls converting up her levels that have been vacant for years into Apartments. I am curious to see how many of these anchor stores are converted into Apartments. The store I worked at had three levels and I could easily see how it could be converted into Apartments.
If Sears were to somehow miraculously survive, I would like to see the entire Sears corporate hierarchy tossed out and a new CEO and executive board put in place that has experience in retail that only receives bonuses if Sears succeeds.
Eddie would sell his interests and be removed completely from any connection to Sears.
This rapid decline of the company can be placed at the feet of former CEO Alan Lacey who handed over the company to Eddie Lampert.....Had Lacey been replaced with a true experienced merchant who would have kept Sears independent and away from Lampert, the company might be in better shape today.
someone needs to disconnect the life support
Rhetorical question on these forums...
Gee, I don't know, I' ve never heard this discussed before...