Sears to linger onwards for the time being

[Sonikku]

https://www.cnbc.com/2019/01/06/sea...erts-bid-to-save-company-will-liquidate-.html

We all knew it was coming. Eddie Lampert ran it into the ground. But I am still sad to see it go. A lot of businesses have come and gone over the years in my hometown, but Sears has been the only fixture up to this point that I can remember being there all the way back to when I was a small child in the 80's.

 

[nakedfrog]

Actually a little surprised it took as long as it did.
Their catalog is where I ordered all my SNES games when I lived in Germany.

 

[FeuerFrei]

I should probably stop by and look at closeout merchandise.

 

[nakedfrog]

I should probably stop by and look at closeout merchandise.

If the last few store closings I've gone to over the past few years are any indication, I wouldn't expect much.

 

[Exterous]

We all knew it was coming. Eddie Lampert ran it into the ground.

Yeah he did. Wasn't even shy about it.

I should probably stop by and look at closeout merchandise.

I'd wait a few weeks. Normally they price things at MSRP - 10% at first which means prices actually go up on a lot of things. Although (from my experience) it brings the sheeple out in droves thinking it's a good deal. Meanwhile the employees are probably hiding things around the store to buy when the discounts get bigger

 

[BoomerD]

IMO, Sears started dying when they were bought by K-Mart back in...2004? Quality started getting worse almost immediately, and with the sale of the Craftsman tool line, it was only a matter of time before they folded.

 

[FeuerFrei]

If the last few store closings I've gone to over the past few years are any indication, I wouldn't expect much.

My father's stopped by a couple times already and is reporting "deals." Not sure how much I trust his assessment. Also, I know how store closings prey on consumer ignorance of fair prices. So I'm hemming and hawing.

 

[FeuerFrei]

I'd wait a few weeks. Normally they price things at MSRP - 10% at first which means prices actually go up on a lot of things. Although (from my experience) it brings the sheeple out in droves thinking it's a good deal. Meanwhile the employees are probably hiding things around the store to buy when the discounts get bigger

Closing sale's been going on since before Christmas ... % off keeps climbing.

 

[nakedfrog]

The last store closing I went to (not Sears) in December was at 40% off... which put the prices at what I could buy things for on Amazon already.

 

[Sonikku]

I wouldn't bother with the closing sales. The "savings" are a facade. Anything you buy that breaks down you won't be able to return. Anything good will be gone at the 10-20% level, leaving nothing but crap by the 60% sales. Actually, it's probably mostly junk now. The store has been so cash strapped that vendors stopped sending stock some time ago.

 

[Exterous]

Closing sale's been going on since before Christmas ... % off keeps climbing.

It has to get pretty high to match what you could get on a normal sale

 

[allisolm]

According to this article: https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html they are NOT going to shut down . Revised bid from Lampert has been accepted. The deal could keep 425 of the stores open.

Dunno which is correct.

 

[paperfist]

I wouldn't bother with the closing sales. The "savings" are a facade. Anything you buy that breaks down you won't be able to return. Anything good will be gone at the 10-20% level, leaving nothing but crap by the 60% sales. Actually, it's probably mostly junk now. The store has been so cash strapped that vendors stopped sending stock some time ago.

While execs cash out with their big bonuses and former long time employees get da boot.

 

[Sonikku]

According to this article: https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html they are NOT going to shut down . Revised bid from Lampert has been accepted. The deal could keep 425 of the stores open.

Dunno which is correct.

Franky I don't know why he bothers. It's not like Sears has a big turn around left in it at this point. The time for that was a decade ago at the latest. He seems determined to keep Sears open until the lights go out, screwing his investors in the process as its ability to cover debts diminishes by the day.

 

[kn51]

It's all about the real estate. This started years ago.

 

[Sgt. York]

It's time for Sears to finish choking and die. They had a good run, but their time is long past.

 

[ultimatebob]

It doesn't sound like it's quite dead yet. I'd imagine that they would want to sell the remaining locations slowly, rather than close them all at once and create a glut of commercial real estate that would hurt prices.

Remember, these are former hedge fund guys... they want to squeeze every drop of blood out of this corpse

 

[shortylickens]

I never liked going to Sears, even in the 80's when they were still good. I have not been able to find anything I need at their stores since around 2003 or so.

 

[kn51]

If you look where the remaining stores are opened...

 

[NuclearNed]

I wonder what Lampert's motivation is for pumping even more money into this sinking ship? Pride?

 

[FeuerFrei]

I heard bankruptcy court granted a 1-day extension to allow Lampert time to deposit 120 million to secure a 4 billion loan. (Or something like that. Numbers may vary. That was over an hour ago.)

 

[Thebobo]

Purchased a C=64 than a C=128 at Sears. And when younger it's the only place my folks would take me for my clothes shopping.

 

[IndyColtsFan]

Looks like they're still alive for now:

https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html

Sears was THE store when I was a kid, and it is amazing how management ran it into the ground. I still remember going to the video game section as a kid and picking out the latest and greatest Atari 2600 games. I also remember looking forward to the Wishbook every year so I could circle what Star Wars toys I wanted.

 

[thestrangebrew1]

Yea I remember going to Sears to get school clothes, shoes, and video games back when I was a kid. I got my appliances at Sears a few years ago, and before they got rid of Craftsman, I would buy tools there once in awhile. Haven't been there in a few years, they just started closing down the store here in town right before xmas. I won't be going to check out their "sale" however. When Circuit Closed, their "sales" were stupid. Everything in the store was marked up heavily. Waste of time going over there. Won't be doing that again.

 

[snoopy7548]

Hopefully they remember to wipe any servers of customer data before they sell them off...