-

-

Thursday, October 18, 2018

Sears

Sears declared chapter 11 bankruptcy Monday.  Above is a picture of the old Wyoming Valley Mall store.  I've been reading quite a bit about Sears, trying to figure out what went wrong.

It seems to be a cluster of epic proportions.

First, Sears was becoming irrelevant, and it was a slide that started years ago.  Home Depot and Lowe's did tools, appliances and hardware better.  A dozen, at least, other stores did clothes better.  There wasn't much left for Sears.

Sears and KMart combined.  Stores looked tired and stale.  There was really no reason to go there.  Management didn't invest in the product.  Jobs lost.  Customer service suffered.  It just wasn't fun to shop there.

The company now has a fraction of the stores it once had.  It's tough to cut your way to profitability, and from what I read, no one in the financial or retail industry believes Sears/KMart will last long past Christmas.

It makes me sad.  Like most people my age, we have fond memories of Sears, especially the catalog, and especially especially the Christmas Wish Book.

Even more people are bound to lose their jobs because more stores are closing.  There will be a ripple effect.  Damaged malls will lose even more foot traffic.

A lot of blame is being placed on ownership, and that seems appropriate.  However, the Sears department store concept is just about shot, and I'm not sure anyone could have stopped it.