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Sears Files For Bankrupty


After 125 years of being in business, the last 10 of which were awash in red ink, Sears has filed for Chapter 11 bankruptcy protection. The company will close 142 stores by the end of the year, which isn’t far off, and will eventually almost certainly go out of business. My heart goes out to all Sears employees who are losing their jobs, and to their families, and to the communities wherein the former employees and families live and spent money, and to the economic hit those communities will take, and to the other employees whose jobs will vanish because of the snowball effect of this catastrophe.

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Well, they can find work in China... that country needs workers y'know cause apparently their goods are in high demands.

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So I’ve received a reply from someone whom I have on Ignore. Could someone who I, you know, actually like and respect please answer? Thank you in advance.

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Unfortunate, but they refused to change with the times and the product quality had slipped. Sears should have embraced online retailing which was the evolution of mail order of which Sears did to perfection over several generations. They refused to eat a few bad years where it would have made sense to close a number of stores only to have to do pretty much the same thing towards the end of their existence. Refuse to change and suffer the consequences. I say this as a person who had a great love for Sears growing up a couple generations ago. I don't like it but the outcome could have been different if not for management.

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I'm of the same mind. I feel for those who will lose their jobs and pensions. It's what I think of first when I hear about businesses going bankrupt: the workers, the people who are there every day, slogging it out and getting the job done. The same thing happens when companies downsize. The economic ripples spread farther than some folks realize.

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I agree, I had 2 Sears in my city. On the other hand, Amazon just opened up a huge distribution center creating 1200 jobs in my city as well. I feel bad for anyone who loses their job. It sounded like poor management by the higher ups.

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I'm not a sentimental fan of the chain, but it was really disheartening to see things like MSN gleefully announce every store closing of the last 15 years. It was almost like they were saying, "Who cares about the employees? Sears is so UNCOOL that we can't wait to relegate them to the dustbin of history and vanish off the face of the earth!"

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This is old news in Canada. They went under last year here.

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Sears was pre-Amazon. Years ago I used to go to Sears and order from their catalog. The order was either sent to me or I picked it up. Sad demise.

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