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June 24, 2019, 12:52:32 PM
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Badmovies.org Forum  |  Movies  |  Press Releases and Film News  |  Sears Declares Bankrupcy. (Chapter 11) « previous next »
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Author Topic: Sears Declares Bankrupcy. (Chapter 11)  (Read 1020 times)
Pacman000
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« on: October 17, 2018, 07:57:09 AM »

Chapter 11, so they plan to reorganize: https://www.wsj.com/articles/sears-files-for-chapter-11-bankruptcy-1539579819

Went to Sears a few months ago. It was very quiet. Sears can't even afford Muzak.

The store itself was still fairly nice, but there was something haunting about it. A few broken tiles; a few places which needed paint; some empty space on the floors. Walked past the closed portrait studio. Walked into the closed portrait studio. The lights were off, & there were boards over the doors leading to the actual photo booths. Faded, 90's-ish, pictures were on the walls. I took some pictures of what the area looked like then moved on.

There was no electronics section, but they had a shelf of DVDs, the cheap $5 ones put out by Echo Bridge/Platinum Disk Corporation.  Bought a TV show, if I remember correct. White Fang, the complete series. Not good, but great scenery, & entertaining if you don't think too much about it. There was only one slow cashier, & a long line.

Hard to believe they're really going bankrupt; it's been announced every year for the past decade; it's like the boy finally saw a real wolf.

I wonder what this'll do to their franchised stores? If they really go under, I suppose someone'll buy the name continue to license it. Happened with Ben Franklin's. Seems to happen that way with most defunct franchisers.

Have one or two Tele-Games 2600 carts. Great cover art, under appreciated. I just wish they didn't change the games' names. Makes it hard to remember what you already own.
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BoyScoutKevin
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« Reply #1 on: October 18, 2018, 05:24:24 PM »

I still can't believe it, as they were a major part of my past. According to the latest news, while they will be closing more of the stores--both Sears and K Mart--there are plans to keep some of them open.

As I told my financial advisor--and, yes, I have one-- there is a heck of a story here in the rise and fall of Sears, and I hope sometime in the near future, someone turns that story into a non-fiction book, or, what went wrong? What went right? As I, for one, would be interested in reading it.

Good-bye, Sears. And may this not be the way it ends.
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LilCerberus
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« Reply #2 on: October 18, 2018, 05:30:39 PM »

Meh...
Anybody remember Woolworth's?
Me neither.
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BoyScoutKevin
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« Reply #3 on: October 18, 2018, 05:38:59 PM »

Meh...
Anybody remember Woolworth's?
Me neither.

I do. Another one from my past, that no longer exists. And one of the original pioneers of the five-and-dime concept, as nothing in the store sold for more than a nickel or a dime. Of course, even during my time, the prices were higher than that.
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FatFreddysCat
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« Reply #4 on: October 19, 2018, 09:50:44 AM »

Does anybody really expect Sears to come out the other side of Chapter 11 and continue as a business? Come on. This has been the longest, most drawn out retail death spiral I've ever seen.

My brother used to work for Sears. Shortly after the new/current CEO (Eddie Lampert) came on board and merged Sears with K-Mart, our Uncle (who had been a big wig with Sears loss prevention dept. for many years but was retired by this time) called my brother and told him (exact quote): "Get the f**k outta there. Eddie Lampert is going to run that company into the ground."

...so my brother did, and Eddie Lampert did. It just took way longer than expected. Gotta give that Lampert guy credit, he's great at re-arranging deck chairs on the Titanic.

The Sears store my bro worked at closed for good about a year ago. Last I heard it was going to become a Stew Leonard's gourmet market.
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