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Old 01-08-2019, 09:33 AM   #1
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Sears to liquidate it's stores.

Sears will reportedly pursue liquidation
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Sears will ask a bankruptcy judge to pursue liquidation after rejecting a $4.4 billion takeover bid from its chairman, Eddie Lampert, according to Reuters.
Lampert's hedge fund, ESL Investments, said his bid would have kept up to 50,000 of Sears' 68,000 workers employed.
Sears on Tuesday will ask a bankruptcy judge to liquidate after rejecting a $4.4 billion takeover bid by the company's chairman, Eddie Lampert, according to Reuters.
Another giant dinosaur going into extinction.

Note: The operative word is 'reportedly', but without an 11th hour turn around, sears is done.

Tool sale coming to a sears store near you.
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Old 01-08-2019, 09:34 AM   #2
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Damn millenials :ShakesFist

just another example of a legacy business refusing/failing to innovate or choosing profits over value.
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Old 01-08-2019, 09:47 AM   #3
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just another example of a legacy business refusing/failing to innovate.
I grew up in a small town in the 70s, department stores were JC Penney and Sears. JC Penney always felt glamorous compared to Sears. Sears felt like it was stuck in the 50-60's.

Fast forward through the decades, I only stopped by Sears for tools, but every time I stepped in, it always felt like it was stuck in time, some 10-20 years behind the times. Crazy thing is, it felt like that for all Sears.
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Old 01-08-2019, 09:50 AM   #4
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I grew up in a small town in the 70s, department stores were JC Penney and Sears. JC Penney always felt glamorous compared to Sears. Sears felt like it was stuck in the 50-60's.

Fast forward through the decades, I only stopped by Sears for tools, but every time I stepped in, it always felt like it was stuck in time, some 10-20 years behind the times. Crazy thing is, it felt like that for all Sears.
yep, profits over value. Everyone should have seen the writing on the wall when Kmart acquired them.

Who wants to shop here?
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Old 01-08-2019, 07:48 PM   #5
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Originally Posted by RS250 Chester View Post
I grew up in a small town in the 70s, department stores were JC Penney and Sears. JC Penney always felt glamorous compared to Sears. Sears felt like it was stuck in the 50-60's.

Fast forward through the decades, I only stopped by Sears for tools, but every time I stepped in, it always felt like it was stuck in time, some 10-20 years behind the times. Crazy thing is, it felt like that for all Sears.
Remember the good ol' days shopping at all those stores? Emporium Capwell and Montgomery Wards... Circuit City and The Good Guys... CompUSA and Computer City... Radio Shack and recently Orchards...

Which big box retailer is going to fall next? I think Macys is soon going bye-bye.
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Old 01-08-2019, 08:02 PM   #6
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Remember the good ol' days shopping at all those stores? Emporium Capwell and Montgomery Wards... Circuit City and The Good Guys... CompUSA and Computer City... Radio Shack and recently Orchards...

Which big box retailer is going to fall next? I think Macys is soon going bye-bye.
Really wonder what will happen to Frys. Seen their hours change, slow traffic and a cut in inventory. Wonder if their days are numbered.

Loved Good Guys, that store was always busy. I'm sure people remember Whole Earth Access, always enjoyed going to the store off Ashby.
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Old 01-08-2019, 11:03 AM   #7
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Damn millenials :ShakesFist

just another example of a legacy business refusing/failing to innovate or choosing profits over value.
I don't know enough about the particulars, but if a hedge fund outfit owns it, I expect nothing less than having the assets sucked dry and the operation thrown on the trash heap. It's like a viral wasting disease within the context of capitalism. In that scenario, even sound companies, like Mervyn's, were scavenged then scrapped. It was a popular retailer, owned many of its own properties but the new ownership shut the stores, sold off the assets, somehow managed to screw employees out of their retirement then moved on. And this was years ago.

The last thing an ownership like that will do is to strategically capitalize a business so it can survive new realities. It's almost like they operate as long as luck allows them to survive because like a slumlord, the money only goes one way.

I agree that hardware stores are a major concern of mine too, as a consumer. I am really sad to see OSH go because they represented at least an alternative set of brands at times from whatever Home Depot CHOOSES to carry. If I didn't have a day job, I could go to pro retailers for plumbing and electrical stuff because there is a whole tier of specialty businesses that cater mostly to contractors and such but they are almost always closed in the evenings and on weekends.

And MOST ACE affiliates are not really that good of stores but they have a lot of stuff, but are generally higher-priced than the big boxes. And I am not impressed with a lot of stuff that bears the ACE label. A much sadder day for me was when the Atalic Ace in Richmond closed. That was a jewel of a store, counter service only. They had EVERYTHING you could ever imagine of hardware. They were an ACE affiliate but the depth of their buying and merch was way beyond the basic ACE stuff.

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Old 01-08-2019, 11:07 AM   #8
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I don't know enough about the particulars, but if a hedge fund outfit owns it, I expect nothing less than having the assets sucked dry and the operation thrown on the trash heap. It's like a viral wasting disease within the context of capitalism.
I watched a thriving economy around Boston get flushed down the toilet and 100's of thousands put out of work to fatten the bank accounts of corporate raiders back during the 80's, trump was among those soulless assholes.

It took that region a couple decades to recover, numerous people had a very rough time of it, all due to actions of a few greedy men.
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Old 01-08-2019, 09:44 AM   #9
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Damn this sucks. It was my go to place for kitchen appliances.
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Old 01-08-2019, 10:00 AM   #10
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Tool sale coming to a sears store near you.
Does anyone have a Sears store near them anymore. The one closest to me closed down over a year ago.
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Old 01-08-2019, 10:20 AM   #11
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Does anyone have a Sears store near them anymore. The one closest to me closed down over a year ago.
Yup. There is one in the Capitola mall. Right around the corner from me. Not far from where the OSH just closed up shop.
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Old 01-08-2019, 10:06 AM   #12
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I remember when Sears bought Lands End. I was like, what a perfect match: Boring with boring.
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Old 01-08-2019, 10:11 AM   #13
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Read up on Lampert. Fuckhead drove Sears straight into the toilet. People knew this was coming years ago, just no one could pinpoint exactly when the patient would up and shit itself.

Took down OSH with it, too.
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Old 01-08-2019, 10:24 AM   #14
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Read up on Lampert. Fuckhead drove Sears straight into the toilet. People knew this was coming years ago, just no one could pinpoint exactly when the patient would up and shit itself.

Took down OSH with it, too.
This! The dude has/had no reason to save it.

If you grew up in the 60’s and 70’s, Sears ruled the world. Their catalog was usually close to the phone book and the family bible, and when I was a kid they’d taunt you with the Christmas book just when we went back to school.
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Old 01-08-2019, 10:29 AM   #15
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This! The dude has/had no reason to save it.

If you grew up in the 60ís and 70ís, Sears ruled the world. Their catalog was usually close to the phone book and the family bible, and when I was a kid theyíd taunt you with the Christmas book just when we back to school.
I spent many a childhood hour with the sears Christmas wish book. RIP.
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