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Old 01-08-2019, 09:33 AM   #1
Climber
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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, 09:44 AM   #3
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Damn this sucks. It was my go to place for kitchen appliances.
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Old 01-08-2019, 09:47 AM   #4
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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   #5
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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, 10:00 AM   #6
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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, 10:06 AM   #7
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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   #8
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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, 10:20 AM   #9
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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, 10:24 AM   #10
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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   #11
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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 back to school.
I spent many a childhood hour with the sears Christmas wish book. RIP.
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Old 01-08-2019, 10:30 AM   #12
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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 is not new or surprising. There was never going to be a resurrection with Sears. That's not this dude's MO. Anyone who thought otherwise is oblivious.
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Old 01-08-2019, 10:30 AM   #13
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Old 01-08-2019, 10:31 AM   #14
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Even into the 80's, Sears was a solid place to go for a variety of stuff.

Then in the 90's their automotive service dpt. got busted for selling unnecessary services. And they kept doing it well after they got busted (they tried to do it to me and threatened to not let me have my car back when I went there for tires way back in the day... said it was dangerous. I said yes, it was dangerous for them to hi-jack my car, gimme my shit back nao).

FFW to 10 years ago. I go in for tires (cuz I guess I didn't learn the first time) and get:

1. An attitude.
2. A completely absurd quote for said tires. Like... total la-la land shit.

Basically hadn't been back. I did walk thru one on the way out of a mall somewhere year or two back. Stopped to check out their work boots. Crap shoes at Redwing prices. GTFO.

But Lampert wins either way. Torpedoing the company was surely part of the plan all along.
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Old 01-08-2019, 10:37 AM   #15
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Quote:
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Does anyone have a Sears store near them anymore. The one closest to me closed down over a year ago.
There was/is a big one in the mall in Pacheco/Concord. Pretty nice one actually.



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I spent many a childhood hour with the sears Christmas wish book. RIP.
^^So much this^^
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