Sears On The Verge of Bankrutpcy. Stock under 50 cents per share.

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Reports have the once great Sears filing bankruptcy by the end of the week not being able to pay bills due next week. Stock trading under 50 cents a share.

https://www.cbsnews.com/news/sears-...rts-sends-retailers-stock-sinking-2018-10-10/

I constantly see stories of closings and the stores themselves are ghost towns. Prices suck and quality have declined on several of their products. I also noticed you can buy their Craftsman tools in Lowes and Ace now. It seems like the management just wants to make money off their name.

What really sucks is that many will wind up losing their jobs right before or near the holidays.
 

It's been coming for some time now. IMO, Lowes & H/depot hurt them big time. Add to that the on-line shopping / buying sure didn't help.

Hard to understand really, Sears always carried good product, at fair / decent prices. But people just don't [go] shopping like they used to. Look at the shopping malls that have closed.

Don't get me wrong, I'm not a 'shopper' . But in the past when I needed something often Sears was the first place I would head. I admit now,...I look to see if I can find it on-line & if they will deliver it. But that is the new me, pushing 70 with arthritis.
 
Back in the 50's when first married, Sears was the first place we looked when considering appliances, tools, or kid's school clothes. Also our first place that we held a "revolving charge" account. ( I think that's what it was called.)My folks before me, had also been Sears shoppers.

Sad to see them go but as others have mentioned,, they're no longer the Sears that we used to know. :(
 
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The closed up the Sears in the mall near me a couple of years ago and the K Mart across the street from the mall has also closed up. Sears once sold quality products like Kenmore appliances, my dad always used the Craftsman tools, the clothing was a nice quality-not real expensive and didn't shrink or fall apart like clothing from some other stores. Almost all stores I loved in the mall are gone now. Kind of sad.
 
rgp said:
It's been coming for some time now. IMO, Lowes & H/depot hurt them big time. Add to that the on-line shopping / buying sure didn't help.

Hard to understand really, Sears always carried good product, at fair / decent prices. But people just don't [go] shopping like they used to. Look at the shopping malls that have closed.

Don't get me wrong, I'm not a 'shopper' . But in the past when I needed something often Sears was the first place I would head. I admit now,...I look to see if I can find it on-line & if they will deliver it. But that is the new me, pushing 70 with arthritis.
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I use internet to browse and research the way shopping did decades ago .Sears and Kmart don't help themselves by not advertising. Sears is down to one circular a week if that. Kmart has completely cut out their paper circular. But they still work. The stores that seem to thriving at the local mall/s still advertise with paper circulars. They keep the name out there. If someone doesn't see a circular/ad and doesn't live or pass where these stores are they will forget about them. Walmart is the only brick and mortar store I know of that can get people there without alot of paper advertising. But they sell so much variety that someone has 'a' reason to go there.
 
Sad news but it was inevitable. Sears didn't react well when the Walmart boom started back in the 90's and got even further behind when Home Depot and Lowes entered the scene just a few years later. The explosion of Amazon probably put the final nails in the coffin which is ironic since Sears stared out as a mail order catalog business.
 
The Sears by me is always empty, hardly any customers and not the good prices and selections that they had years ago. I never went to Sears much, usually just for an item like a lawnmower. K-Mart by me has already closed, JC Penney is still open.
 
I worked for Sears back in the day when it was a solid company. I saw the writing on the wall when Edward Lampert took over and decided to make a change.
It's sad.
 
Most of the malls near me have either closed or probably will in the near future. People, especially the younger folks, prefer shopping online. For the life of me, I can't understand why. I like to try clothes on before I decide
whether or not to buy them!

I just bought a sweater online from Coldwater Creek, an old favorite of mine, with no stores still open in the vicinity. Nice sweater, but too big. So it's costing me $6.95 to return it for a smaller size. I don't see why this is in
any way preferable.
 
MarkinPhx said:
The explosion of Amazon probably put the final nails in the coffin which is ironic since Sears stared out as a mail order catalog business.
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I really do miss the exictement of receiving Sears catalogs in the mail. I always looked forward to the Christmas catalog, back to school catalog, the spring catalog, the winter catalog. It made getting mail rather exciting.
 
Seems they"ve been on "life support " for quite some time now...
I've always thought their biggest mistake was the Kmart merger and the Martha Stewart mess.
 
Sunny said:
Most of the malls near me have either closed or probably will in the near future. People, especially the younger folks, prefer shopping online. For the life of me, I can't understand why. I like to try clothes on before I decide
whether or not to buy them!

I just bought a sweater online from Coldwater Creek, an old favorite of mine, with no stores still open in the vicinity. Nice sweater, but too big. So it's costing me $6.95 to return it for a smaller size. I don't see why this is in
any way preferable.
Click to expand...

This. I never understood it either. Yes there are odd or hard to items online only but for stuff that can be easily bought in a store I want to see it, the box, how it was handled, damage etc. Along with seeing how it's actually made. Stunned of the quality of stuff I actually see that I researched online. I read onetime that Sears closed it's catalog business because the returns were too costly, especially with their satisfaction guaranteed warranty.

Ironic that Sears was sorta of the first online retailer with that catalog and now online competition is one of things that is killing them.

Funny you mention that the young people seem to prefer online. I recently read something that many college age kids don't know how to buy postage stamps because they are so used to to internet. Also makes me wonder exactly how profitable these online retailers are. Yes the sales are through the roof and several warehouses and distribution centers are cheaper than 100s of store but shipping/logistics are an expense.

Sidenote since bad drivers were mentioned today. I'm starting to see alot, I mean of alot of local delivery cargo vans making small package deliveries blocking/double parking the way an United Parcel truck would which is bs in itself.
 
Giantsfan1954 said:
Seems they"ve been on "life support " for quite some time now...
I've always thought their biggest mistake was the Kmart merger and the Martha Stewart mess.
Click to expand...

Hi,another stupid mistake Sears made was merging with Land's End. I used to buy clothing from their catalogue,haven't done so in years.
There is a KMart still open here in the city,I still go there every couple of months. I can still buy my pants/shorts under their brand'Basic Edition',but everything else doesn't look and or feel the same it once did Sue
 
I still want to 'shop' for what I buy. This electronic shopping is not doing any of us any good. Lazy folks never think of actually shopping and seeing and touching items before buying. Quality is some thing you can see and appreciate, hard to do on email purchases.
 
oldmontana said:
Sears a few years Craftsman tools were only at Sears...that is not so today.

Sorry to see Sears go..if they do.
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That "if they do" has me thinking about restructuring and the stock eventually rising. I might take a chance and buy 5000 shares since that would only be a loss of $2,250.00 if they went belly up. On the other side if restructured and rose in value our sons would have a little more to celebrate with.
 
It's the same in Australia.
Some major retailers are struggling, and some of the medium sized ones are going to the wall.
One called Myers is really battling, with it's share price fallen quite a lot.
I suppose it's the way of the future
 

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