Quite honestly, Sears was one of those companies that I thought was going to be around forever.
That being said, a few horrible business decisions can stop any consumer powerhouse dead in its tracks.
Just look at how many local retailers that you might have seen in the past that fell by the wayside because they did something to upset the customer base or restaurants that made one too many changes to the menu that the customers didn’t like.
The problem with Sears is that they didn’t;’t change with the times.
There is something to be said for a business staying the same in all of the right respects.
The problem with Sears is that they stayed stuck in a mindset from decades ago in all the wrong ways. Now they are paying for it,
Via Daily Wire:
One of America’s most iconic businesses, which has been in business for over 125 years and still employees 68,000 people, is on the verge of liquidation after an eleventh-hour, $4.4 billion takeover bid failed to satisfy advisers to the company, which hasn’t turned a profit in nearly a decade.
“Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert’s $4.4 billion takeover bid, casting doubt on the survival of the 126-year-old U.S. department store,” Reuters exclusively reported Tuesday, citing sources familiar with the matter.
Lampert submitted the bid just before the December 28 deadline set by a bankruptcy court, prompting the company’s advisers to assess if he was a “qualified bidder” and the deal was enough to keep the company afloat. According to Reuters’ sources, the bid fell short. Now Sears faces full liquidation of its assets if the judge doesn’t decide to give Lampert more time to improve his offer, which Reuters’ sources say he and his hedge fund, ESL Investments Inc., are attempting to do.
“U.S. Bankruptcy Judge Robert Drain in the Southern District of New York, who is presiding over the case, could decide to give Lampert more time to improve on his bid, the sources said,” Reuters notes. “A bankruptcy auction for Sears’ assets is not due until Jan. 14.”
When Sears filed for bankruptcy in October, it announced the closure of 142 Sears and Kmart stores. As The Daily Wire reported last week, Sears has recently announced the closure of 80 more stores across the country, including its automotive shops. The latest round of closures leaves the company with just 400 stores nationwide.
This is so SAD. I just wish someone could come up with a high bid. I really liked K-Mart.
I worked for Sears in college and in management after college. Their problem always has been they have not kept up with the retail industry. I blame their stodgy management for this. You just can’t operate in this world like you operated 125 years ago. It is sad, but has finally led to their demise. RIP Sears
as they say- a little bit too late – the mindset of the sears board was from the 1940’s – as people who I knew work at the supply house in chicago in the 1960 – 1980 they said they could see a different in the amount of stock being depleted. When the Sears corp was charging outrageous credit card cost on their cards the other credit card companies were cutting their in half and sears would not budge on the credit card financial charge-people stopped using sears and went to other retailers. the other credit card companies knew what sears was about and it was like the Titanic and it too some time spam but they are about to sink- by the time the Sears board realized they has lose about 20 to 25 percent of customer base they still did not change. the last time I went to Sears to buy a item – appliance, they had a middle eastern female in the location and she did not know anything about washers and dryers or AC units -so I stopped going to sears. I have not been in a sears store in over 10 yrs now- the one closest to me is closed now so that is that –
Gary,, the same thing was said about AMC.. They’re only true spark came when they produced the Javelin & AMX.. The Hornet of the early ’70’s was a very good car………. But bland on the styling.
I never thought of Sears as a great store
Thanks a bunch for sharing this with all of us you really know what you’re talking about! Bookmarked. Please also visit my website =). We could have a link exchange agreement between us!
Hi there! I simply want to give an enormous thumbs up for the good information you’ve gotten here on this post. I can be coming back to your weblog for extra soon.
We’re a group of volunteers and starting a new scheme in our community. Your web site provided us with valuable information to work on. You’ve performed an impressive activity and our whole neighborhood will be thankful to you.
Respect to website author , some wonderful entropy.
Can I just say what a reduction to seek out someone who truly is aware of what theyre talking about on the internet. You undoubtedly know tips on how to convey a problem to mild and make it important. Extra people need to learn this and perceive this facet of the story. I cant consider youre not more popular since you undoubtedly have the gift.
A lot of thanks for each of your work on this web page. My daughter take interest in working on investigations and it’s really obvious why. A number of us know all of the lively manner you deliver valuable ideas via this web site and as well as boost participation from visitors about this concept then our girl is in fact becoming educated a whole lot. Have fun with the rest of the new year. You are doing a good job.
Keep working ,great job!
Allopurinol And Amoxicillin Priligy Avis Blog [url=http://bmpha.com]levitra medecine[/url] Mexico Viagra Online
Zithromax Tinnitus viagra Precio Levitra 20 Mg Farmacia
Comprar Cialis Mastercard Dapoxetina Ricetta cialis no prescription Amerimedrx Online Pharmacy
Cialis 14 Compresse Prezzo Buy Now Online Zentel cialis without prescription Propecia Tienda