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 Well, it finally happened...Sears, Roebuck & Co. Chapter 11 
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mcyclonegt wrote:
If it weren’t for Lamperts money sears would have been gone years ago. Wasn’t he the hedge fund manager that kept bailing them out? I too am very sad. My shop is full of craftsman tools. Sears and their goods were part of my life. Sad day for sure.


Lampert was the single reason why they failed. He knew nothing about retail and thought he knew about running a business. He stopped investing in the facilities, ruining the customer experience. Stores were dirty, lights flickering, carpet worn. He unwound the partnership agreements with many premium brands who had dedicated floor space. He pitted each different department against each other in competition to see who would spend the most money to buy into the company Mother's Day mailing. And ended up with tools being front and center. For Mother's Day. Anyone who showed inititative was fired. And they wondered why store traffic failed. And then he tried to cut his way to greatness by shuttering stores.

I'm actually really surprised that it took this long to implode.

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Mon Oct 15, 2018 8:42 am
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Rutilate wrote:
mcyclonegt wrote:
If it weren’t for Lamperts money sears would have been gone years ago. Wasn’t he the hedge fund manager that kept bailing them out? I too am very sad. My shop is full of craftsman tools. Sears and their goods were part of my life. Sad day for sure.


Lampert was the single reason why they failed. He knew nothing about retail and thought he knew about running a business. He stopped investing in the facilities, ruining the customer experience. Stores were dirty, lights flickering, carpet worn. He unwound the partnership agreements with many premium brands who had dedicated floor space. He pitted each different department against each other in competition to see who would spend the most money to buy into the company Mother's Day mailing. And ended up with tools being front and center. For Mother's Day. Anyone who showed inititative was fired. And they wondered why store traffic failed. And then he tried to cut his way to greatness by shuttering stores.

I'm actually really surprised that it took this long to implode.


:yes:

Textbook example of a business failing to adapt. Absolute textbook, business school case study material.

Sears joins IBM, Kodak, Blockbuster, Radio Shack, Blackberry, etc.

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Mon Oct 15, 2018 8:56 am
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Sears should have owned the ecommerce game but they were completely left behind by it. Total leadership failure, unfortunately. I'm surprised it's taken them this long to hit the Ch11 button and I don't expect them to come out of it. They'll use it to ditch their real estate liabilities (their remaining landlords must have seen this coming from a long way out) and then divest themselves of anything that's left. And what's really sad is that there are probably malls out there that still count Sears among their anchor tenants. Expect some other smaller stores to start evacuating those sites in 3...2...1...

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Mon Oct 15, 2018 9:00 am
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Just an example but this last Sat. we drove by Sears in Fed. Wy. and the parking lot was empty... EMPTY!
I had to look at the time just to make sure is wasn't after 6pm. It was only around 1pm on a Saturday. icon_eek

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Mon Oct 15, 2018 9:19 am
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Try to remember back in the sixties when I was a kid that Sears was our number one shopping experience, if they didn't have it we would go to Montgomery Wards
It's sad that technology has overtaken America's way of life as we old farts knew it.

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Mon Oct 15, 2018 9:28 am
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AR15L wrote:
Just an example but this last Sat. we drove by Sears in Fed. Wy. and the parking lot was empty... EMPTY!
I had to look at the time just to make sure is wasn't after 6pm. It was only around 1pm on a Saturday. icon_eek


Um.. That sears closed in April of this year.... That's why it was EMPTY


Mon Oct 15, 2018 9:31 am
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Massivedesign wrote:
AR15L wrote:
Just an example but this last Sat. we drove by Sears in Fed. Wy. and the parking lot was empty... EMPTY!
I had to look at the time just to make sure is wasn't after 6pm. It was only around 1pm on a Saturday. icon_eek


Um.. That sears closed in April of this year.... That's why it was EMPTY

Ugh... shows how much I get out of the house. :ROFLMAO:

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Mon Oct 15, 2018 9:43 am
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Wow, flashbacks to looking at the bra pictures in the Sear's catalog in the 60's. :rofl9:

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Mon Oct 15, 2018 9:51 am
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Caveman Jim wrote:
Try to remember back in the sixties when I was a kid that Sears was our number one shopping experience, if they didn't have it we would go to Montgomery Wards
It's sad that technology Globalization/Chinese manufacture/the acceptance of slave labor produced products has overtaken America's way of life as we old farts knew it.


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Monkey Wards!

When did Sears go from having sturdy, well made (but maybe not cutting edge stylish) products to having the cheapest shoddiest shite? (Maybe around the same time it became "fashionable" to wear designer/manufacturer logos prominently displayed as part of the clothing's "style". yeesh.)

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Mon Oct 15, 2018 11:12 am
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Last edited by CQBgopher on Sat Jan 19, 2019 1:59 pm, edited 1 time in total.



Mon Oct 15, 2018 1:56 pm
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Sad to hear. I had my first "real job" out of high school at a Sears store down in the PRoK back in '92. Sears was the everything place for my family. We all went together as a family to shop, that's just the way it was. They had it all, tires for the car, shoes, pants, tools, furniture, hardware, appliances, etc. You name it.... it was there. You could drop your car off for an oil change and get your Sunday shopping done all in one location.

Now, we have Walmart and cheap Chinese crap, along with some shitty McD's at the other end of the parking lot for mega-carb "dinners".

Kind of like a piece of Americana has died.

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Mon Oct 15, 2018 5:20 pm
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Father bought me my first hunting rifle from sears in Lacey. Ted Williams 30-30. Think it was 1970 or thereabouts. Heck, they were made by Winchester.


Mon Oct 15, 2018 7:38 pm
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Capitalism is a bitch, eh?


Mon Oct 15, 2018 7:40 pm
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Rutilate wrote:
mcyclonegt wrote:
If it weren’t for Lamperts money sears would have been gone years ago. Wasn’t he the hedge fund manager that kept bailing them out? I too am very sad. My shop is full of craftsman tools. Sears and their goods were part of my life. Sad day for sure.


Lampert was the single reason why they failed. He knew nothing about retail and thought he knew about running a business. He stopped investing in the facilities, ruining the customer experience. Stores were dirty, lights flickering, carpet worn. He unwound the partnership agreements with many premium brands who had dedicated floor space. He pitted each different department against each other in competition to see who would spend the most money to buy into the company Mother's Day mailing. And ended up with tools being front and center. For Mother's Day. Anyone who showed inititative was fired. And they wondered why store traffic failed. And then he tried to cut his way to greatness by shuttering stores.

I'm actually really surprised that it took this long to implode.


I have zero doubt that his decisions made it fail, I also believe his money kept it from happening sooner. That's all i meant by my statement. He was no savior.

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Wed Oct 17, 2018 11:14 am
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Just desserts/bad market decisions. I used to almost exclusively buy Craftsman tools and then they got tricksy and completely altered their lifetime replacement warranty. I have boycotted them ever since and like K Mart they have paid the price

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Wed Oct 17, 2018 1:44 pm
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