Sears filed for bankruptcy

Item added by twansalem. Added on 01/02/2019
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2 Reviews

miaminaples
01/03/2019

Sears filed for bankruptcy 4

They've been on a downhill spiral for several years now. Handing over the firm to hedge fund types like Eddie Lampert was never going to end well. They only know how to sell off the productive sides of a firm, leaving the rest to be sold off on the cheap. The rise of new competitors hasn't helped, but they failed to adapt and invest in new more profitable lines of business.

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twansalem
01/02/2019

Sears filed for bankruptcy 4

Everyone saw this coming, but I think it is a fairly major milestone in where retail is going. The Sears Catalog used to be a huge deal, but why wait for a catalog to come in the mail when you can just go online any time to order something? Unless you need something right now, why go to the store to pick it up when Amazon will send it to you for free in two days?

I think there will always be a place for physical stores, but maybe not for planned, large items. Small hardware stores like Ace will always be around because things break, and you have to fix that leak now, would really rather not wait two days to fix that door, etc. But smaller stores will handle such things, and something like Sears is just a thing of the past.

I do, however, wonder why Sears couldn't figure out how to successfully move from an order by catalog type company to a major online competitor to Amazon. Sears has been delivering orders for decades, they had the know-how and the infrastructure. It's just updating to keep up with technology, it's not like it was a new concept.

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