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Thread: Sears - more bad news

  1. #81
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    Quote Originally Posted by blackhawk61 View Post
    well Sears in Winston Salem,NC sponsored a cruise in.
    https://www.youtube.com/watch?v=aZMMZR1pB_c
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  2. #82
    Silver Hawk Member JRoberts's Avatar
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    The Sears in one of the largest malls in Raleigh has announced that it is closing. I believe this is the only Sears in the city.
    Joe Roberts
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  3. #83
    Golden Hawk Member jclary's Avatar
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    Quote Originally Posted by blackhawk61 View Post
    well Sears in Winston Salem,NC sponsored a cruise in.
    https://www.youtube.com/watch?v=aZMMZR1pB_c
    Not to be too irreverent or ungrateful...but in today's 24/7 hour shopping world...

    where else could you find such a large unoccupied parking lot to hold a cruise-in than
    SEARS?
    John Clary
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  4. #84
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    Here's an example of where things have gone, I just ruined the belt on the mower deck on my year old Craftsman riding mower (it came loose and went over one of the guide pins instead of around the pully), went on the Sears website to order a new one, the price was $41.95. Did a Google search on the belt part number and found one on eBay, OEM - made in USA, for $14.99 and free shipping. Guess who got the order?
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  5. #85
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    Quote Originally Posted by jclary View Post
    Not to be too irreverent or ungrateful...but in today's 24/7 hour shopping world...

    where else could you find such a large unoccupied parking lot to hold a cruise-in than
    SEARS?
    The huge Ford meet at Knott's Berry Farm parking/trailer parking needs were meet by the near by Sears for many years.
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  6. #86
    President Member blackhawk61's Avatar
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    Quote Originally Posted by jclary View Post
    Not to be too irreverent or ungrateful...but in today's 24/7 hour shopping world...

    where else could you find such a large unoccupied parking lot to hold a cruise-in than
    SEARS?
    They were VERY MUCH OPEN and even gave discounts to participants.
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  7. #87
    Golden Hawk Member jclary's Avatar
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    Quote Originally Posted by blackhawk61 View Post
    They were VERY MUCH OPEN and even gave discounts to participants.
    Well...that kinda makes the point.

    And...could be a springboard for a whole new opportunity! For those really wishing to resurrect the York swap meet! (even if the Keystone chapter don't want to participate) Some energetic enthusiastic SDC member could approach the manager of the York Sears. Here's a pic I found on the internet of the York Sears store! Looks like there's plenty of room... we could give them an opportunity to increase customer traffic, and sell a few new tools...even if they had to discount them to make a sale!
    WIN! WIN!

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  8. #88
    Golden Hawk Member 8E45E's Avatar
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    Quote Originally Posted by jclary View Post
    For those really wishing to resurrect the York swap meet! (even if the Keystone chapter don't want to participate) Some energetic enthusiastic SDC member could approach the manager of the York Sears. Here's a pic I found on the internet of the York Sears store! Looks like there's plenty of room.
    Provided Sears is still around next year.

    Craig

  9. #89
    Golden Hawk Member jclary's Avatar
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    Quote Originally Posted by 8E45E View Post
    Provided Sears is still around next year.

    Craig
    Right Craig and I'm not sure the York Sears is open now...I just found that pic at random on the internet.
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  10. #90
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  11. #91
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    Declaring bankruptcy today. It's long overdue in my opinion having worked at the auto center in Temecula 8 years ago. I was appalled with their mismanagement from the top down making that stint in my work life the absolute lowest and that includes driving cars for a used car lot from an auction.
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  12. #92
    Golden Hawk Member BobPalma's Avatar
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    As a dealer selling all the independents except Hudson in the mid-1950s, my father never thought he'd live to see the day General Motors would file for bankruptcy protection....but he did!

    How many of us over, say, 50 thought we'd ever see the day K-Mart and Sears, Roebuck and Company would be in the same boat? BP
    We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.

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  13. #93
    Golden Hawk Member 8E45E's Avatar
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    Quote Originally Posted by BobPalma View Post
    As a dealer selling all the independents except Hudson in the mid-1950s, my father never thought he'd live to see the day General Motors would file for bankruptcy protection....but he did!

    How many of us over, say, 50 thought we'd ever see the day K-Mart and Sears, Roebuck and Company would be in the same boat? BP
    One can also add other long time iconic names such as Kodak, Polaroid and Zenith, to name a few that also filed for bankruptcy protection. I still remember the huge "The Quality Goes In Before the Name Goes On" sign over the Zenith factory in suburban Chicago that was visible from the Tri-state Tollway.

    Craig

  14. #94
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    Quote Originally Posted by 8E45E View Post
    One can also add other long time iconic names such as Kodak, Polaroid and Zenith, to name a few that also filed for bankruptcy protection. I still remember the huge "The Quality Goes In Before the Name Goes On" sign over the Zenith factory in suburban Chicago that was visible from the Tri-state Tollway.

    Craig
    About five years ago I bought Zenith Plasma TV that turned out to be a rebranded LG model which now owns the name. Bad news - Another brand gone, Good news - Spectacular picture and flawless service from the 60" unit.

    Bob
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  15. #95
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    Quote Originally Posted by 8E45E View Post
    One can also add other long time iconic names such as Kodak, Polaroid and Zenith, to name a few that also filed for bankruptcy protection. I still remember the huge "The Quality Goes In Before the Name Goes On" sign over the Zenith factory in suburban Chicago that was visible from the Tri-state Tollway.

    Craig
    Obscure trivia; In 1986 I got from my employer, GE, a Zenith laptop computer. I was in tech service and used it to show customers various GE technical papers. If I was near a GE facility, of any kind even Financial Services, I could go in and plug into their server to use GE's internal "email"( more like a "chat" style system) or get updated tech papers. I ended up buying it from GE in 1988 when I got a newer laptop, and used it on a drag car I was building that had programmable timing and fuel injection curves. Both of those systems had their own programmers, but with the help of a friend I was able to put both programs on the laptop and use it instead. There were many folks at the local drag strip that were amazed, at what is now considered normal.
    Money may not buy happiness, but it's more comfortable to cry in a Mercedes than on a bicycle.

  16. #96
    Silver Hawk Member JRoberts's Avatar
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    I learned yesterday that our local Sears will have a close out sale beginning within two weeks....and the dominoes continue to fall....
    Joe Roberts
    '61 R1 Champ
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  17. #97
    President Member Bordeaux Daytona's Avatar
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    The last two near me are closing. The only left is in Valparaiso. Way too far away for me.
    There's going to be a Hot Wheels K-day this Saturday. Most likely its last
    Last edited by Bordeaux Daytona; 10-16-2018 at 08:58 AM.

  18. #98
    President Member DougHolverson's Avatar
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    Wasn't an early '90s Studebaker regional in Omaha held at the Sears parking lot of the Crossroads Mall? All not far from Peony Park. Sears and Crossroads aren't what they use to be. Crossroads doesn't even have a food count anymore. Peony Park is long gone.

    I was thinking about that '90s and a '79 regional that was held in Peony Park when I was driving by there in my Land Cruiser misadventure to Discount Tires and back.
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  19. #99
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    So as of the news late yesterday, it appears Sears' final curtain has fallen. In my humble opinion, all citizens who reside in the rural areas of America owe a huge debt of gratitude to the Sears organization who brought big city life, conveniences and modernization to the American (and Canadian) small towns and village dwellers. Anyone here remember you could purchase an Allstate automobile from their catalog? I remember as a kid awaiting the Sears Christmas catalog so as to dream of the newest shoes or WHY they were enticing us with. Another large retailer going the way of JC Penny and the Dodo bird. Welcome to the modern world of Amazon.
    Bill

  20. #100
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    What if Sears had the foresight to turn their "paper" catalog into an "on line" catalog, they could have been the Amazon of today. Also keep in mind that Fred Fish had a difficult time convincing the Studebaker brothers to enter the horseless carriage business and they were the only major wagon maker to successfully make the transition. Change is not easy.
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  21. #101
    President Member Gunslinger's Avatar
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    Sears filed for Chapter 11 which is for bankruptcy protection while the company reorganizes...that doesn't necessarily mean they will go under and liquidate. There's a chance that after a period of reorganization, shedding unprofitable stores and other assets they can come out leaner and maybe...maybe...rebuild towards solvency.

    If Chapter 11 doesn't work then they'll no doubt file for liquidation. Sears stock is down to being considered a penny stock now...anyone willing to take a chance could buy a lot of shares for very little and maybe make a bundle down the road...maybe. Invest a few hundred dollars if you want to take a chance on the company if you accept the risk of losing it all. Risk taking is what make this country great...it's worked for others.
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  22. #102
    President Member DougHolverson's Avatar
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    Is Chapter 11 an extra awful screw the creditors bankruptcy? Unfortunately my understanding comes from Dad getting stuck with a rubber check during American Beef going Chapter 11 way back when I was just a kid.
    1963 Champ "Daisy Stu Bludebaker"- sometimes driver
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  23. #103
    Silver Hawk Member JRoberts's Avatar
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    Quote Originally Posted by Buzzard View Post
    So as of the news late yesterday, it appears Sears' final curtain has fallen. In my humble opinion, all citizens who reside in the rural areas of America owe a huge debt of gratitude to the Sears organization who brought big city life, conveniences and modernization to the American (and Canadian) small towns and village dwellers. Anyone here remember you could purchase an Allstate automobile from their catalog? I remember as a kid awaiting the Sears Christmas catalog so as to dream of the newest shoes or WHY they were enticing us with. Another large retailer going the way of JC Penny and the Dodo bird. Welcome to the modern world of Amazon.
    Bill
    At one time you could order a house through the Sears catalog!

    My Dad was in the Army and when we were overseas the Sears catalog was where we shopped. My grandparents at Christmas time would send us the latest Sears "wish book" and we were to mark what we wanted for Christmas, tear out that page and send it back to them.
    Joe Roberts
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  24. #104
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    Quote Originally Posted by DougHolverson View Post
    Is Chapter 11 an extra awful screw the creditors bankruptcy? Unfortunately my understanding comes from Dad getting stuck with a rubber check during American Beef going Chapter 11 way back when I was just a kid.
    Chapter 7 is Liquidation. Chapter 11 for Business, or Chapter 13 I believe in personal Bankruptcy, is restructuring/reorganization under court supervision.

    This shouldn't be a surprise to anyone. What was once Sears biggest asset has become it's albatross. Prime real estate no longer viable for retail. The only K-Mart in this area when I was a kid in the 60's on Ireland Road in South Bend has been torn down and replaced with a Holiday Inn Express that will sell out every Notre Dame Home Game. Menard's is building on the balance of it. K-Mart just wasn't price competitive anymore. The Sears business model became old fashioned and five or six competitors conquered them. I'm too busy adapting to all the change myself to get overly concerned. I'm old enough to remember when the Ireland Road K-Mart just torn down closed the S.S. Kresge store in Downtown South Bend. I miss the K-Mart Submarine Sandwiches the most.
    Last edited by 556063; 10-16-2018 at 10:08 PM.

  25. #105
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    Quote Originally Posted by JRoberts View Post
    At one time you could order a house through the Sears catalog!

    My Dad was in the Army and when we were overseas the Sears catalog was where we shopped. My grandparents at Christmas time would send us the latest Sears "wish book" and we were to mark what we wanted for Christmas, tear out that page and send it back to them.
    The original owners of a 1953 Commander Starliner, that I bought from them, owned a Sears house from new. The house still stands (they don't).

    All of the K-Marts in the area have or will close by the end of the year. Most of the Sears stores have or will close by the end of the year, with the exception being the one closest to me - in Poughkeepsie, NY.
    Gary L.
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  26. #106
    Golden Hawk Member 8E45E's Avatar
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    Quote Originally Posted by Buzzard View Post
    In my humble opinion, all citizens who reside in the rural areas of America owe a huge debt of gratitude to the Sears organization who brought big city life, conveniences and modernization to the American (and Canadian) small towns and village dwellers. Anyone here remember you could purchase an Allstate automobile from their catalog?
    Here in Canada, Timothy Eaton's also contributed greatly to mail-order convenience to rural areas besides Simpson-Sears.

    I posted a rare Allstate car here: http://forum.studebakerdriversclub.c...-1952-Allstate

    Craig

  27. #107
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    Quote Originally Posted by JRoberts View Post
    At one time you could order a house through the Sears catalog!
    Those package homes provided a fair amount of employment in Bay City, Mi during the early and mid last century. Aladdin, Liberty and Sterling Homes were all located here and a large number of those package homes came from them.

    My Grandmother also rented a room to one of the Liberty Homes Architect's for a number of years. A lot of good Michigan Pine went into them.

    Bob
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  28. #108
    Golden Hawk Member BobPalma's Avatar
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    From the January 7, 2019 Indianapolis Business Journal blog:

    https://www.ibj.com/articles/71946-s...ign=2019-01-07
    We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.

    Ayn Rand:
    "You can avoid reality, but you cannot avoid the consequences of avoiding reality."

    G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.

  29. #109
    Speedster Member bumpkinvilledano's Avatar
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    Still hanging in there, like a hair in a biscuit;

    https://www.wpri.com/news/us-and-wor...n-1/1705819055
    Money may not buy happiness, but it's more comfortable to cry in a Mercedes than on a bicycle.

  30. #110
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    It is obvious Sear isn't surviving on its "history." It has the "Your father's Oldsmobile" stigma with the modern shopper. I'd be curious to know what people think might allow it to survive as a retailer? Not what would draw you personally, but a viable (sustainable) segment of the general population.

    My thought is to be a "Made in the USA" only retailer. Just like some people pay more for "green" and "organic" some might be willing to pay more for "made in the USA." If they try and go against Wal-Mart etc. head to head (Chinese product) they just become one more player in that market and they already failed that with K-Mart. So, something needs to set them apart. The "made in the USA" theme would likely retain their old customers and possible draw a few patriotic new ones. What are your ideas.?
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  31. #111
    Golden Hawk Member DEEPNHOCK's Avatar
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    https://www.bostonherald.com/2019/01...o-remain-open/

    (snippet copy - See link for entire article)

    Sears will live on — at least for now.


    Its chairman and biggest shareholder, Eddie Lampert, won tentative approval for a $5 billion plan to keep the ailing, 132-year-old department-store chain in business, fending off demands from creditors that it throw in the towel, according to a person familiar with the negotiations. The person was not authorized to discuss the matter and spoke on condition of anonymity Wednesday.


    Lampert, the hedge fund owner who steered Sears into Chapter 11 bankruptcy protection in October, is aiming to keep open roughly 400 stores and preserve tens of thousands of jobs.


    But how long Sears can survive under the 56-year-old billionaire, who has tried and failed to turn it around many times before, remains an open question.


    The company that was once the Amazon of its day, selling everything from girdles to snow tires, still faces cutthroat competition from the likes of Amazon, Target and Walmart. Its stores are looking drab and old. And Lampert has yet to spell out how he plans to change the company’s fortunes.


    “While there’s no doubt that a shrunken Sears will be more viable than the larger entity, which struggled to turn a profit, we remain extremely pessimistic about the chain’s future,” said Neil Saunders, managing director of GlobalData Retail.


    “In our view, Sears exits this process with almost as many problems as it had when it entered bankruptcy protection. In essence, its hand has not changed, and the cards it holds are not winning ones.”


    Sears’ corporate parent, which also owns Kmart, had 687 stores and 68,000 employees at the time of its bankruptcy filing. At its peak in 2012, its stores numbered 4,000.


    The company was hammered during the recession and outmatched in its aftermath by shifting consumer trends and strong rivals. It hasn’t had a profitable year since 2010 and has suffered 11 straight years of declining sales.


    At a bankruptcy auction held this week in New York, Lampert won the OK from a subcommittee of the Sears board for a rescue plan financed through an affiliate of his hedge fund ESL.


    Many of Sears’ unsecured creditors, who rank at the bottom of the list to be paid and include merchandise suppliers and landlords, had pressed for liquidation, contending the business was worth more dead than alive. They also questioned the propriety of certain deals Lampert has done while at Sears.


    Lampert’s rescue plan still needs approval from a bankruptcy judge in White Plains, New York. A hearing is set for Feb. 1. Creditors will have the opportunity to object before then. The specific terms of the bid haven’t been made public.


    Lampert personally owns 31 percent of the Sears’ outstanding stock, and his hedge fund has an 18.5 percent stake, according to FactSet.


    Lampert, who stepped down as CEO in October after being in that role since 2013, pledged years ago to return Sears to greatness, but that never happened. He has been criticized for not investing in the stores.


    Under Lampert, Sears has survived in part by spinning off stores and selling well-known brands like Craftsman tools, and he has also lent some of his own money, though critics say his real aim was benefiting his hedge fund.


    If his bid to save Sears gets final approval, he will need to reinvent the business. That means revitalizing the stores and focusing on the major appliances and tools that were once Sears’ proudest products, industry analysts say.


    Sears will also need to convince shoppers like Sanjay Singh they should come back.


    Singh was recently shopping with his wife at the Newport Centre Mall in Jersey City, New Jersey, and stopped by a Sears to look for a swimsuit for his 11-year-old daughter. He said he usually shops at places like Macy’s and J.C. Penney because they have a better assortment of merchandise and the quality is also better.


    “Sears is usually my last option,” he said.


    ____
    HTIH (Hope The Info Helps)

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  32. #112
    Speedster Member bumpkinvilledano's Avatar
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    https://www.wsj.com/articles/credito...nt-11548364160

    This is like watching a slow motion train wreck. That's 9,000 cars long.
    Money may not buy happiness, but it's more comfortable to cry in a Mercedes than on a bicycle.

  33. #113
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    Quote Originally Posted by bumpkinvilledano View Post
    https://www.wsj.com/articles/credito...nt-11548364160

    This is like watching a slow motion train wreck. That's 9,000 cars long.
    Couldn't read the whole article without subscribing but what little I got it seems like a "...slow motion train wreck. That's 9,000 cars long" - filled with cattle manure. Some of these people seem as culpable as say..., a plastic surgeon who insists your 99 year old dying grandmother needs a face lift.
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  34. #114
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    FWIW, I have visited the closing sale at our local Sears to pick up a few open stock sockets in metric sizes. I have also bought a few of the smallest sockets from the Sears website because our local Sears store never carried the smallest sockets like a 3/8 drive 6mm 12pt or a 3/8 drive 1/4 6pt deep socket.

    I have also visited a number of the local Ace hardware stores to fill gaps since the open stock display is getting barren at Sears. The Craftsman sockets may not be hot sellers because a number of sockets I have seen at a few of the Ace stores were covered in dust. I also got the impression in conversations with staff that they could not get open stock 6pt sockets in any size.

    And even though Lowes and Ace will continue to sell Craftsman, manufactured by Stanley-Black and Decker, will Lowes ever sell open stock?

    Jeff T.
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  36. #116
    Speedster Member bumpkinvilledano's Avatar
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    Guess Sears/Kmart will be around a bit longer

    https://www.cnbc.com/2019/02/07/eddi...&ICID=ref_fark
    Money may not buy happiness, but it's more comfortable to cry in a Mercedes than on a bicycle.

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