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Old 10-10-2018, 11:37 PM
 
Location: Washington State desert
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While bankruptcy does not necessarily mean they are going out of business, this is a somewhat alarming story, though not unexpected.

https://www.nbcnews.com/business/bus...report-n918446

Yes, they are closing more stores this fall. Does anyone think they may survive in some form?
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Old 10-10-2018, 11:43 PM
 
Location: Aurora Denveralis
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Sears has been lying in the gutter, wheezing and coughing blood for more than ten years, and you ask how bad it is?

I think any value the brand or store sites once had has long since been eroded. It's a shell and has been for years. No value at all beyond scrap.
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Old 10-11-2018, 06:31 AM
 
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Sears?

Isn’t that the big magazine I used to circle all of the LEGO sets and everything else in for my must have Christmas list?
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Old 10-11-2018, 12:02 PM
 
Location: Aurora Denveralis
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And on brand value - they sold off the one remaining brand with some luster, Craftsman. That was the equivalent of lying down in the desert and making their peace with the universe.
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Old 10-11-2018, 01:03 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,381 posts, read 50,562,503 times
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Quote:
Originally Posted by Quietude View Post
And on brand value - they sold off the one remaining brand with some luster, Craftsman. That was the equivalent of lying down in the desert and making their peace with the universe.
Craftsman tools was my only reason to ever go into Sears, now I can get them on Amazon, Lowe's, or Ace Hardware.
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Old 10-11-2018, 03:37 PM
 
Location: Silicon Valley
2,744 posts, read 1,207,954 times
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Quote:
Originally Posted by pnwguy2 View Post
While bankruptcy does not necessarily mean they are going out of business, this is a somewhat alarming story, though not unexpected.

https://www.nbcnews.com/business/bus...report-n918446

Yes, they are closing more stores this fall. Does anyone think they may survive in some form?

Yes...because they have to. If they fall to liquidation, the CEO that's ferretting away all the top assets will get the intermingled funds looked at a bit closer by the bankruptcy court. It would be awesome to see someone like Wal-Mart or Amazon show up to the court proceedings just to ********** guy up and either put the stores back on track in a different form or get them closed so people can move on, but I doubt there's any opportunity. He's the CEO, the owner of half the shares and he's got the most senior debt to himself.



He saw a power play and apparently decided....who cares how many families I destroy...I can steal 100% of the assets and cash float by buying 50% of the company and pushing down all the other creditors.



Didn't even need a gun. His attorneys will seal the deal for him in the final proceedings. The combined corpse of Kmart and Sears....takes awhile to digest.
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Old 10-11-2018, 09:01 PM
 
18,235 posts, read 11,645,412 times
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Quote:
Originally Posted by pnwguy2 View Post
While bankruptcy does not necessarily mean they are going out of business, this is a somewhat alarming story, though not unexpected.

https://www.nbcnews.com/business/bus...report-n918446

Yes, they are closing more stores this fall. Does anyone think they may survive in some form?

Stick a fork in it; it's done!


Normally anytime venture capitalist get involved with something, the entity isn't long for this world. It will be picked apart for choicest morsels that will reward the investor(s) leaving the twitching and writhing carcass to be fought over by vultures.


Pick one, TWA, Eastern Airlines, Toys R US, behind their demise as a Carl Icann or someone like.


Sears is gone, dead, and has been for ages now. Mr. Kantor is hanging on to get as much of his money back (if possible), before creditors pull the plug.


That being said Sears should have seen writing on wall decades ago and began changes in response to what was happening in retail. This includes everything from technology to changing roles of women/shopping habits.
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Old 10-12-2018, 01:30 AM
 
Location: Washington State desert
4,683 posts, read 2,919,580 times
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Quote:
Originally Posted by BugsyPal View Post
Stick a fork in it; it's done!


Normally anytime venture capitalist get involved with something, the entity isn't long for this world. It will be picked apart for choicest morsels that will reward the investor(s) leaving the twitching and writhing carcass to be fought over by vultures.


Pick one, TWA, Eastern Airlines, Toys R US, behind their demise as a Carl Icann or someone like.


Sears is gone, dead, and has been for ages now. Mr. Kantor is hanging on to get as much of his money back (if possible), before creditors pull the plug.


That being said Sears should have seen writing on wall decades ago and began changes in response to what was happening in retail. This includes everything from technology to changing roles of women/shopping habits.
If true, the bigger issue is another major blow to malls across America. Most, (not all), Sears are located in malls. And they generally have large platforms within those malls. I think this may be a more important outcome from the company possibly going under.
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Old 10-12-2018, 07:10 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,381 posts, read 50,562,503 times
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Quote:
Originally Posted by pnwguy2 View Post
If true, the bigger issue is another major blow to malls across America. Most, (not all), Sears are located in malls. And they generally have large platforms within those malls. I think this may be a more important outcome from the company possibly going under.
Our local one (closed last month) is not in a mall, and the entire area is being redeveloped into an "urban village" with apartments, restaurants, condos, offices and retail.


https://www.redmond.gov/common/pages...?fileId=217828
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Old 10-12-2018, 09:13 AM
 
Location: Aurora Denveralis
2,961 posts, read 1,007,246 times
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Quote:
Originally Posted by pnwguy2 View Post
If true, the bigger issue is another major blow to malls across America. Most, (not all), Sears are located in malls. And they generally have large platforms within those malls. I think this may be a more important outcome from the company possibly going under.
Maybe. If Sears is the only anchor, it will probably depress the mall. If there's another strong anchor, or more, probably not. I don't think Sears pulls anywhere near the business they used to, so if a mall is surviving with a Sears on life support, they'll survive when it dies.

They're often premium locations, even in older areas. Look for retailers like Target and Walmart to pounce on the good locations.
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