Sears files for bankruptcy

[Black Diamond Vol]

I'm a bit surprised they held out for this long.

https://www.cnn.com/2018/10/15/business/sears-bankruptcy/index.html

[Tnphil]

It's all of their own making.....Took the smug 'We Are Better' than everyone else years ago and stood still while the competition wasn't just passing them but where blazing past them.

I've watched the Sears here in my town go down over the last 10 years....I was in there the other day and had to search the store to find someone to help me...Then when I found what I wanted I had to go find someone to check me out. I remember the days you would get knocked down by sales people when you walked into the doors....I've been a big supporter of Sears going back to the 60's. Every mower....appliance and 99% of my tools have come from Sears over the years. The first thing they stopped doing here was they didn't have service department anymore.....All repairs were sent to Memphis and you were lucky to get something you needed fixed back in 2 weeks......Then 2 years ago they closed their auto service center here which seemed to always have good business and I used them quite a bit too. Bad management doomed them.

[Black Diamond Vol]

It's all of their own making.....Took the smug 'We Are Better' than everyone else years ago and stood still while the competition wasn't just passing them but where blazing past them.

I've watched the Sears here in my town go down over the last 10 years....I was in there the other day and had to search the store to find someone to help me...Then when I found what I wanted I had to go find someone to check me out. I remember the days you would get knocked down by sales people when you walked into the doors....I've been a big supporter of Sears going back to the 60's. Every mower....appliance and 99% of my tools have come from Sears over the years. The first thing they stopped doing here was they didn't have service department anymore.....All repairs were sent to Memphis and you were lucky to get something you needed fixed back in 2 weeks......Then 2 years ago they closed their auto service center here which seemed to always have good business and I used them quite a bit too. Bad management doomed them.

JC Penny won't be far behind (I actually thought they'd file before Sears).

This is going to lead to a massive re-mapping of hundreds, if not thousands, of American cities and towns. Think about how many half-empty shopping malls there are right now that are only hanging on because they're anchored by a Sears or Penny's. Now think about all the surrounding shopping and dining establishments that are dependent on that mall traffic for their business. These large commercial areas are going shrink drastically if not outright disappear within a matter of a few years.

Within a decade, Amazon and Wal-Mart are going to be the only major retailers left. And even Wal-Mart will probably be moving most of their non-grocery business online (the rapid expansion of the smaller Wal-Mart groceries over the past couple years seems to be in preparation for this).

[Creek Walker]

Within a decade, Amazon and Wal-Mart are going to be the only major retailers left. And even Wal-Mart will probably be moving most of their non-grocery business online (the rapid expansion of the smaller Wal-Mart groceries over the past couple years seems to be in preparation for this).

Eaaaaasy...

It's inevitable, but I don't think it's going to happen quite that quickly.

You're right about JCP. I hate it, too. JCP used to be my favorite place to buy clothes. Now I never go into the place except to buy Arizona jeans, which I'm partial to because they fit just like Levi's, are cheaper and hold up better. Like Sears, JCP has suffered from very bad management decisions.

[Black Diamond Vol]

Eaaaaasy...

It's inevitable, but I don't think it's going to happen quite that quickly.

You're right about JCP. I hate it, too. JCP used to be my favorite place to buy clothes. Now I never go into the place except to buy Arizona jeans, which I'm partial to because they fit just like Levi's, are cheaper and hold up better. Like Sears, JCP has suffered from very bad management decisions.

It was a gradual thing, but I think Sears' and JCP's demise is going to accelerate things rapidly. Those two have been propping up big box retail for years, and I don't see anything else to that's left to fill that void.

[BanditVol]

JC Penny won't be far behind (I actually thought they'd file before Sears).

This is going to lead to a massive re-mapping of hundreds, if not thousands, of American cities and towns. Think about how many half-empty shopping malls there are right now that are only hanging on because they're anchored by a Sears or Penny's. Now think about all the surrounding shopping and dining establishments that are dependent on that mall traffic for their business. These large commercial areas are going shrink drastically if not outright disappear within a matter of a few years.

Within a decade, Amazon and Wal-Mart are going to be the only major retailers left. And even Wal-Mart will probably be moving most of their non-grocery business online (the rapid expansion of the smaller Wal-Mart groceries over the past couple years seems to be in preparation for this).

The loss of JCP and Sears has already largely occured.  Huntsville has had neither for a couple of years.

Speaking of Sears, a coworker earlier this year  ordered a clothes dryer for his rental property and had a windowl AC delivered instead.  Twice.   

Probably pure incompetence, but sometimes businesses do shenanigans to make the books look better.  Like delivering the wrong thing twice and chalk it up to a sale.  Either way, when I heard what I happened I figured Sears was gone. 

I hate it also.  My uncle worked in the service department at Sears for 20+ years from the 60s to the late 80s and made a good living off it.   They were an American institution.  And while Amazon is obviously very efficient, too much power is being concentrated in too few hands.  Not good!

[Black Diamond Vol]

The loss of JCP and Sears has already largely occured.  Huntsville has had neither for a couple of years.

Speaking of Sears, a coworker earlier this year  ordered a clothes dryer for his rental property and had a windowl AC delivered instead.  Twice.   

Probably pure incompetence, but sometimes businesses do shenanigans to make the books look better.  Like delivering the wrong thing twice and chalk it up to a sale.  Either way, when I heard what I happened I figured Sears was gone. 

I hate it also.  My uncle worked in the service department at Sears for 20+ years from the 60s to the late 80s and made a good living off it.   They were an American institution.  And while Amazon is obviously very efficient, too much power is being concentrated in too few hands.  Not good!

~20 years ago, most big box retailers were "good" competitors, realizing that they were all clustered together in most cities, and they were all interdependent on each other for their individual success. What was good for one was good for all. Wal-Mart and Amazon, OTOH, took a zero-sum philosophy, and set out to crush their competitors. For better or worse, they have been proven correct. For now, anyway.

[BanditVol]

~20 years ago, most big box retailers were "good" competitors, realizing that they were all clustered together in most cities, and they were all interdependent on each other for their individual success. What was good for one was good for all. Wal-Mart and Amazon, OTOH, took a zero-sum philosophy, and set out to crush their competitors. For better or worse, they have been proven correct. For now, anyway.

You have to wonder at what point the tariff war will affect Walmart.  I can't find any recent stats, but as of 2016, 60-70% of Walmart products came from China.  It's possible that the tariffs are largely not on products that Welmart sells, but at some point you would think it might start to have an impact.

[VinnieVOL]

Really is sad.  East Town Mall/Knoxville Center as we all know has been in decline for a long time.  But even still every time I go there I'm shocked at how many more stores are closed since the last time I was there.  So many good memories there from my childhood.

[volsboy]

Just like every thing else in this country, times are changing. Some of it is hard to accept. I remember back when I was a kid, Sears had all the Ted Williams brand sporting goods. It was pretty good quality stuff. The biggest problem with today's world is everyone wants to do everything from home,  including talking to friends and relatives. Not face to face, but on social media. No interaction at all. Over time, that is not a good thing.

[Creek Walker]

Really is sad.  East Town Mall/Knoxville Center as we all know has been in decline for a long time.  But even still every time I go there I'm shocked at how many more stores are closed since the last time I was there.  So many good memories there from my childhood.

It's ironic, and depressing, how things have gone full circle. Sears would've never become the retail juggernaut that it became if not for the mail-order business. For the first time, folks in rural America were able to purchase mass-produced goods right from their home, without actually having to travel to "the city" to do it. It redefined retail in America. It also started the trend away from main street storefronts and the mom-and-pop businesses that had defined this nation. Our generation tends to think that trend started with Walmart, but Walmart only accelerated a trend that had begun with Sears. Then as Sears' storefronts began to expand in the WWII era, American retail was redefined again. Sears was the anchor of so many shopping malls in suburban America and played a huge role in those malls becoming so popular. The big box stores began the trend away from shopping malls, but I daresay malls would be much more popular than they currently are if not for the emergence of Amazon. Folks have gone back to shopping from home -- this time by internet instead of mail-order catalogs -- and Sears stores are going belly-up and the malls are emptying.

In Knoxville, I wonder what this will do to accelerate the decline of West Town Mall? It's already been confirmed that Sears is closing their store there and that's going to leave a huge, gaping hole in a mall that has managed to hang on even as other malls have declined (including East Town/Knoxville Center).

I'll admit to being an Amazon Prime member, but more and more I'm trying to steer away from purchasing ANYTHING from Amazon. The convenience is great, of course...and that's why we all use it. But I hate the way it's redefining American retail. The moms and pops who lost their stores 20 and 30 years ago would say "don't cry for Sears, Argentina." But I can't help feeling nostalgic about walking into those big stores in the mall as a kid...

[Black Diamond Vol]

It's ironic, and depressing, how things have gone full circle. Sears would've never become the retail juggernaut that it became if not for the mail-order business. For the first time, folks in rural America were able to purchase mass-produced goods right from their home, without actually having to travel to "the city" to do it. It redefined retail in America. It also started the trend away from main street storefronts and the mom-and-pop businesses that had defined this nation. Our generation tends to think that trend started with Walmart, but Walmart only accelerated a trend that had begun with Sears. Then as Sears' storefronts began to expand in the WWII era, American retail was redefined again. Sears was the anchor of so many shopping malls in suburban America and played a huge role in those malls becoming so popular. The big box stores began the trend away from shopping malls, but I daresay malls would be much more popular than they currently are if not for the emergence of Amazon. Folks have gone back to shopping from home -- this time by internet instead of mail-order catalogs -- and Sears stores are going belly-up and the malls are emptying.

In Knoxville, I wonder what this will do to accelerate the decline of West Town Mall? It's already been confirmed that Sears is closing their store there and that's going to leave a huge, gaping hole in a mall that has managed to hang on even as other malls have declined (including East Town/Knoxville Center).

I'll admit to being an Amazon Prime member, but more and more I'm trying to steer away from purchasing ANYTHING from Amazon. The convenience is great, of course...and that's why we all use it. But I hate the way it's redefining American retail. The moms and pops who lost their stores 20 and 30 years ago would say "don't cry for Sears, Argentina." But I can't help feeling nostalgic about walking into those big stores in the mall as a kid...

For so many of us who grew up in the 80s/early 90s, the Mall was the center of our social scene. In Chattanooga, every teenager in town would spend Friday and Saturday evening at Eastgate Mall. Then when the mall closed at 9, we'd go outside and cruise up and down Brainerd Road until the wee hours, usually with Van Halen, Def Leppard, or Whitesnake blasting from our cars.

Ah, nostalgia.

[VinnieVOL]

It's ironic, and depressing, how things have gone full circle. Sears would've never become the retail juggernaut that it became if not for the mail-order business. For the first time, folks in rural America were able to purchase mass-produced goods right from their home, without actually having to travel to "the city" to do it. It redefined retail in America. It also started the trend away from main street storefronts and the mom-and-pop businesses that had defined this nation. Our generation tends to think that trend started with Walmart, but Walmart only accelerated a trend that had begun with Sears. Then as Sears' storefronts began to expand in the WWII era, American retail was redefined again. Sears was the anchor of so many shopping malls in suburban America and played a huge role in those malls becoming so popular. The big box stores began the trend away from shopping malls, but I daresay malls would be much more popular than they currently are if not for the emergence of Amazon. Folks have gone back to shopping from home -- this time by internet instead of mail-order catalogs -- and Sears stores are going belly-up and the malls are emptying.

In Knoxville, I wonder what this will do to accelerate the decline of West Town Mall? It's already been confirmed that Sears is closing their store there and that's going to leave a huge, gaping hole in a mall that has managed to hang on even as other malls have declined (including East Town/Knoxville Center).

I'll admit to being an Amazon Prime member, but more and more I'm trying to steer away from purchasing ANYTHING from Amazon. The convenience is great, of course...and that's why we all use it. But I hate the way it's redefining American retail. The moms and pops who lost their stores 20 and 30 years ago would say "don't cry for Sears, Argentina." But I can't help feeling nostalgic about walking into those big stores in the mall as a kid...

As I read your post, the music from Disney Magic Kingdom's "Carousel of Progress" was playing in my head.     One of my favorite rides there, by the way.. further cementing my "old man" status according to my wife.

Like you, I hate to see it.. but admittedly it hasn't slowed down my Amazon Prime purchases very much.

[Tnphil]

Back in the 60's I'd go into a Sears store not to really buy anything but to go to the candy counter and get a bag of the hot roasted peanuts to eat while I roamed the store. Till this day every time I walk into a Sears I think about the candy counter.

[BanditVol]

Really is sad.  East Town Mall/Knoxville Center as we all know has been in decline for a long time.  But even still every time I go there I'm shocked at how many more stores are closed since the last time I was there.  So many good memories there from my childhood.

East Town opened my junior year of HS at Doyle HS, and it was  a big place to hang out senior year.  My folks still go there sometimes and I have done last minute Christmas shopping there occasionally, but I have some good memories from senior year.  Lots of local HS girls used to hang out there, it was kind of a meat market.