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Thread: Sears - more bad news

  1. #41
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    During the past year we've got some great bargains at Sears.

    A Panasonic TV, $700 at Costco, on sale for $350 at Sears.

    A double oven, stainless steel, $1200 at Sears, $1900 elsewhere. It's labelled "Kenmore", but is made by Frigidaire, the same as most other brands at Lowe's, Home Depot, etc.

    Bargains all over Sears. Get them now, they won't be around much longer.

  2. #42
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    To use automotive terminology, it appears to me that the senior decision-makers at Sears have believed for a long time that running a "salvage yard" is preferable to running a "restoration shop".
    Bill Jarvis

  3. #43
    President Member Gunslinger's Avatar
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    Quote Originally Posted by DEEPNHOCK View Post
    Wal-Mart... Are you paying attention? Macon GA is getting a new Amazon distribution center...
    The clock is ticking....
    No business has a right to survive...they have to continually earn it. There's always someone on the horizon who's hungry and wants your business and is willing to put in the effort to take it away. Once they get fat and happy it can get done to them eventually.
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  4. #44
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    Quote Originally Posted by Greenstude View Post
    Sears Canada announced today that it has applied for Court permission to close all its remaining stores and outlets, about 130 locations in all.
    What is tragic is that 12,000 employees, some of whom have 35 years service, will likely not receive any severance and possibly reduced to no pension. I don't know about the reasons for Sears' decline in the U.S. but in Canada, management simply have not been capable of running such an operation.

    Stu Chapman

  5. #45
    President Member DougHolverson's Avatar
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    Quote Originally Posted by BobPalma View Post
    Finally, after a "Going Out of Business" sale that lasted for months because they kept bringing in new merchandise, BP
    You'd think they'd be a mom and pop stereo and electronics shop.....
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  6. #46
    President Member DougHolverson's Avatar
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    Quote Originally Posted by jnormanh View Post
    Bargains all over Sears. Get them now, they won't be around much longer.
    Sounds like a good time to fill in gaps in the old tool set.
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  7. #47
    Golden Hawk Member 8E45E's Avatar
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    Quote Originally Posted by Stu Chapman View Post
    What is tragic is that 12,000 employees, some of whom have 35 years service, will likely not receive any severance and possibly reduced to no pension. I don't know about the reasons for Sears' decline in the U.S. but in Canada, management simply have not been capable of running such an operation.
    That would be a double-whammy if they were ex-Eaton's employees who worked at a Sears store that was previously an Eaton's. I don't believe their former Eaton's pensions were carried over to Sears when Sears Canada bought the assets of Eaton's in 1998.

    Craig

  8. #48
    Silver Hawk Member jclary's Avatar
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    Quote Originally Posted by BobPalma View Post
    Finally, after a "Going Out of Business" sale that lasted for months because they kept bringing in new merchandise, the K-Mart store here in Brownsburg finally closed for good last week. Signage is down and the place is vacant. Most of us wondered how it lasted this long. BP
    Often, as a retail chain begins to liquidate, they will transfer merchandise from the worse stores to ones that continue to have sufficient "foot traffic," in order to extend sales and recover some of the investment. As soon as the cost outrun the profitability at those stores, their merchandise gets shifted to another. Until the final "fire sale."

    Corporations, governments, and just about any human activity, must, by their very nature, have a purpose to "serve." Name anything that lost sight of their "service base," and you will see a "forfeiture" of any reason to exist.
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  9. #49
    Golden Hawk Member DEEPNHOCK's Avatar
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    Gander Mountain has been doing just this for months...
    Sold out to Camping World... Shutting down stores... But...
    Moving merchandise from the closed stores to 'selected' closing stores..
    Kind of a scam in my book...


    Quote Originally Posted by BobPalma View Post
    Finally, after a "Going Out of Business" sale that lasted for months because they kept bringing in new merchandise, the K-Mart store here in Brownsburg finally closed for good last week. Signage is down and the place is vacant. Most of us wondered how it lasted this long. BP
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  10. #50
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    CBS News this morning reported that Sears of Canada was liquidating all holdings starting late October and will be laying off 12,000 people.

    Bob Miles
    Tucson AZ

    Opps did not see Stu Chapman's post until after I had posted this one. Still a crying shame.
    Last edited by 6hk71400; 10-11-2017 at 01:45 PM. Reason: additional information

  11. #51
    Silver Hawk Member jclary's Avatar
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    Quote Originally Posted by 6hk71400 View Post
    CBS News this morning reported that Sears of Canada was liquidating all holdings starting late October and will be laying off 12,000 people.

    Bob Miles
    Tucson AZ
    Well...do you have a trustworthy news source to verify that?
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  12. #52
    Golden Hawk Member BobPalma's Avatar
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    Quote Originally Posted by DEEPNHOCK View Post
    Gander Mountain has been doing just this for months...
    Sold out to Camping World... Shutting down stores... But...
    Moving merchandise from the closed stores to 'selected' closing stores..
    Kind of a scam in my book...
    AMEN to that, Jeffster. I went into our K-Mart during their going-out-of-business sale and bought all five magazine holders they had, what I had reason to believe was their entire stock since they were "going out of business," and, "selling everything to the bare walls," at 20% off early in the sale, wanting to organize my office a bit.

    'Went back a couple weeks later and lo and behold, they had a whole new shelf of them (same item, same place, new stock) for 30% off! BP
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  13. #53
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    Quote Originally Posted by jclary View Post
    Well...do you have a trustworthy news source to verify that?
    This is accurate John. Subject to court approval, since they couldn't find a new investor, liquidation will begin October 19th and all Sears stores in Canada will likely be closed within about 3 months with 12,000 employees gone. It is highly unlikely the court will force them to try and find an angel since they've already exhausted all sources.

    Stu Chapman

  14. #54
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    Quote Originally Posted by DougHolverson View Post
    Sounds like a good time to fill in gaps in the old tool set.
    If it was still the good Made in the USA Craftsman stuff, I would agree. I believe most all the tools are now Chinese made.

    I'll pay the price for Snap-On or Mac or other USA made stuff. I would rather keep my neighbor employed.
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  15. #55
    Golden Hawk Member 8E45E's Avatar
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    Quote Originally Posted by Stu Chapman View Post
    It is highly unlikely the court will force them to try and find an angel since they've already exhausted all sources.
    Let's hope not! The 'angels' could be us taxpayers!!

    Craig

  16. #56
    Silver Hawk Member jclary's Avatar
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    Quote Originally Posted by Stu Chapman View Post
    This is accurate John. Subject to court approval, since they couldn't find a new investor, liquidation will begin October 19th and all Sears stores in Canada will likely be closed within about 3 months with 12,000 employees gone. It is highly unlikely the court will force them to try and find an angel since they've already exhausted all sources.

    Stu Chapman
    Well Stu, I was half joking, since Bob Miles had only referred to Can't Believe Source as the source of the story. But I will believe you.

    What is incredible is that while typing this reply...I just saw a SEARS commercial on TV! They are claiming huge discounts on all sorts of merchandise. Probably stuff getting loaded up and shipped down from Canada's closing stores...or merchandise originally intended for Canada being diverted.
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  17. #57
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    Went by our local Sears earlier this evening and there were hardly any cars in the lot.

    Sears announced that they were closing the last Kmart in Omaha. The Kmarts in Lincoln closed years ago and I think that there no longer any Kmarts in Nebraska. The closest Kmart to me is now on the far eastern side of Council Bluffs, Iowa, a trip not worth making for something that I probably get somewhere in town.
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  18. #58
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    Now the deed is done. Today the court approved Sears' application to liquidate and close all remaining stores. The liquidation sale will begin next Thursday and should last from 10 to 14 weeks. Sad.

    Stu Chapman

  19. #59
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    Quote Originally Posted by Stu Chapman View Post
    Now the deed is done. Today the court approved Sears' application to liquidate and close all remaining stores. The liquidation sale will begin next Thursday and should last from 10 to 14 weeks. Sad.

    Stu Chapman
    Should that be qualified as "all remaining stores in Canada", or does it really mean all remaining stores?
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  20. #60
    President Member 2moredoors's Avatar
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    Quote Originally Posted by studegary View Post
    Should that be qualified as "all remaining stores in Canada", or does it really mean all remaining stores?
    Yes it should be qualified as "all remaining stores in Canada". Sears Canada is what Stu was referring to.

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  21. #61
    Silver Hawk Member jclary's Avatar
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    Quote Originally Posted by studegary View Post
    Should that be qualified as "all remaining stores in Canada", or does it really mean all remaining stores?
    Quote Originally Posted by 2moredoors View Post
    Yes it should be qualified as "all remaining stores in Canada". Sears Canada is what Stu was referring to.
    I think, barring some kind of extraordinary business resurrection...it is not unreasonable to conclude that the contractions, convulsions, and gasping associated with expiring, will be the inevitable fate of SEARS. Recently, when my local newspaper called to inquire why I cancelled my subscription, I replied, you have discarded your credibility, and offer no information I can't obtain free. Give me some reason I should pay you.

    Even after that, they began throwing a "Free" weekly coupon filled publication on my lawn. If they would have placed it in my "Paper Box"...I would not have minded. Instead, they continued to toss it into the grass. I charged them with "Littering," and it stopped. Now, they mail it to me. But, really, nothing of value. The "Coupons" are freely available on the internet.

    Things change, and the landscape is full of empty buildings where thriving entities failed to adjust, and maintain relevancy.
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  22. #62
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    I received a check from a class action suit against Sears for overtime that wasn't paid. My share was a bit over $220 dollars. Worked there a little over a year. Worst job of my life.
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  23. #63
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    Quote Originally Posted by jclary View Post
    I think, barring some kind of extraordinary business resurrection...it is not unreasonable to conclude that the contractions, convulsions, and gasping associated with expiring, will be the inevitable fate of SEARS.
    I knew it was over when they sold the tower. Companies that take no pride in their own corporate symbols are doomed.
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