Sears files chapter 11 bankruptcy

[hwytohell]

https://www.npr.org/2018/10/15/657395298/sears-drowning-in-red-ink-finally-files-for-chapter-11-bankruptcy     The long painful  end is near . Where America doesn't shop anymore.  j.c. penny and bed bath and beyond will soon be just a  memory.

[Anler]

Big stores are going away. Don't know if there is anything can be done to change that. Gonna be a lot of empty real estate and less of your tax base covered by local commerce. 

[Jimmy Snacks]

3 minutes ago, Nazipigdog said:

Big stores are going away. Don't know if there is anything can be done to change that. Gonna be a lot of empty real estate and less of your tax base covered by local commerce. 

We have a KMart and Sears on either side of M66 here....the strip mall that Kmart is located in is mostly empty now and Sears is the anchor for it's smaller mall across the highway....not good.

[J. Jackson]

Not sure they'll go away. Heard the CEO was raising money to keep the Kenmore brand and downsize the stores. Might take a chance especially if they come out of b-k at .50/share. Any thoughts?

Edited October 15, 2018 by J. Jackson

[Skidooski]

Kmart here went away a few years ago and has been empty the whole time. New sign says TJ Maxx is moving in finally. Fix up that eye sore. Crazy how it was Sears, Hudsons etc growing up and now they are gone or going away

Remember getting one of these in the mail every year? 

Edited October 15, 2018 by Skidooski

[snatchslayer]

5 minutes ago, Skidooski said:

Kmart here went away a few years ago and has been empty the whole time. New sign says TJ Maxx is moving in finally. Fix up that eye sore. Crazy how it was Sears, Hudsons etc growing up and now they are gone or going away

Remember getting one of these in the mail every year? 

I remember browsing through the womans underwear and swimsuit section........

[Cold War]

The only thing that makes Sears different is they are rich in real estate.  Hard to believe the mall dynamic can exist without anchor stores.  The outdoor sporting goods are still doing very well, taking the place of the big department stores.

[Mainecat]

It’s lazy Americans not wanting to get off their overgrown fat asses and actually walk somewhere.

Saw high school kids waiting for the bus the other morning 9 out of 10 were overweight all were not socializing just looking down at their phones.

 

[Edmo]

3 minutes ago, Mainecat said:

It’s lazy Americans not wanting to get off their overgrown fat asses and actually walk somewhere.

Saw high school kids waiting for the bus the other morning 9 out of 10 were overweight all were not socializing just looking down at their phones.

 

It’s a different world than we grew up in, that’s for sure. We used to have a lot of fun on the bus stop. 

[Skidooski]

5 minutes ago, Mainecat said:

It’s lazy Americans not wanting to get off their overgrown fat asses and actually walk somewhere.

Saw high school kids waiting for the bus the other morning 9 out of 10 were overweight all were not socializing just looking down at their phones.

 

Around here there's usually just one or two kids at each bus stop because the bus stops at every driveway and the parents drive their kids to the end of the driveway. 

[Jimmy Snacks]

43 minutes ago, Skidooski said:

Kmart here went away a few years ago and has been empty the whole time. New sign says TJ Maxx is moving in finally. Fix up that eye sore. Crazy how it was Sears, Hudsons etc growing up and now they are gone or going away

Remember getting one of these in the mail every year? 

I remember as a kid in the 70’s here in Charlevoix going to the Sears with my mom. They didn’t have inventory rather it was where orders were placed and picked up....kind of cool.

[Skidooski]

3 minutes ago, Jimmy Snacks said:

I remember as a kid in the 70’s here in Charlevoix going to the Sears with my mom. They didn’t have inventory rather it was where orders were placed and picked up....kind of cool.

I had never been into one like that but we had either a Service Merchandise or Montgomery Wards (??) where I grew up. If I remember right, you browsed the showroom, told them what you want and it came out a conveyor belt. Hearing those rollers knowing your new toy was coming was pretty cool.

[Angry ginger]

31 minutes ago, Cold War said:

The only thing that makes Sears different is they are rich in real estate.  Hard to believe the mall dynamic can exist without anchor stores.  The outdoor sporting goods are still doing very well, taking the place of the big department stores.

all the real estate was moved to a REIT and is seperate from the store at this point.  

 

 Sears was the original Amazon selling Americans just about everything they needed at the expense of the local mom and pop stores but never adapted with the times then doubled down on a changing business by buying Kmart which has always been just a terrible store.

In desired location the loss is not a big deal it will get swallowed up our Kmart is being transformed right now into a couple retail spots as no one really needs the kind of SF they have.  

[Mainecat]

29 minutes ago, Edmo said:

It’s a different world than we grew up in, that’s for sure. We used to have a lot of fun on the bus stop. 

Always a football of basketball to toss around and we actually talked to each other.out of 10-12 of us waiting for the bus one was what you would call fat back then. He would be normal by today’s standards.

 

[Mainecat]

29 minutes ago, Skidooski said:

Around here there's usually just one or two kids at each bus stop because the bus stops at every driveway and the parents drive their kids to the end of the driveway. 

Don’t get me started with that shit. It’s sick.

[Edmo]

12 minutes ago, Angry ginger said:

all the real estate was moved to a REIT and is seperate from the store at this point.  

 

 Sears was the original Amazon selling Americans just about everything they needed at the expense of the local mom and pop stores but never adapted with the times then doubled down on a changing business by buying Kmart which has always been just a terrible store.

In desired location the loss is not a big deal it will get swallowed up our Kmart is being transformed right now into a couple retail spots as no one really needs the kind of SF they have.  

The only thing I liked about Kmart when I was a kid was the frozen cokes. The one we went to in garden city was the first Kmart store.

[Mainecat]

1 minute ago, Edmo said:

The only thing I liked about Kmart when I was a kid was the frozen cokes. The one we went to in garden city was the first Kmart store.

Kmart always has a great fishing section.

[Edmo]

3 minutes ago, Mainecat said:

Always a football of basketball to toss around and we actually talked to each other.out of 10-12 of us waiting for the bus one was what you would call fat back then. He would be normal by today’s standards.

 

There was an older kid that used to bully everyone on our middle school bus stop. One day I’d had enough and sucker punched him as hard as I could right in the nose. He went crying home to mom.  I’ll never forget that.

[f7ben]

My aunt is a Sears exec. Wonder if she'll get canned

[Jimmy Snacks]

11 minutes ago, Edmo said:

The only thing I liked about Kmart when I was a kid was the frozen cokes. The one we went to in garden city was the first Kmart store.

They closed the little diner in our KMart a few years back...loved those frozen cokes and even the occasional greasy burger.

[Jimmy Snacks]

1 minute ago, f7ben said:

My aunt is a Sears exec. Wonder if she'll get canned

I’m sure she is concerned...Sears missed out early on the online ordering craze.

[Angry ginger]

1 minute ago, Jimmy Snacks said:

They closed the little diner in our KMart a few years back...loved those frozen cokes and even the occasional greasy burger.

shit they must have closed the one here almost 20 years ago.  I used to get my oil changed at the kmart in front of my office building when i was first starting out of college and would grab lunch while i waited sometimes.    

[f7ben]

1 minute ago, Jimmy Snacks said:

I’m sure she is concerned...Sears missed out early on the online ordering craze.

She is 72 years old and they have her working from home. I'm guessing she is gonna milk the cow until its dry and then shed no tears

[Edmo]

1 minute ago, Angry ginger said:

shit they must have closed the one here almost 20 years ago.  I used to get my oil changed at the kmart in front of my office building when i was first starting out of college and would grab lunch while i waited sometimes.    

The subs they made were pretty good back then. Although I haven’t been in a Kmart in at least 25 years.

[Cold War]

49 minutes ago, Angry ginger said:

all the real estate was moved to a REIT and is seperate from the store at this point.  

 

 Sears was the original Amazon selling Americans just about everything they needed at the expense of the local mom and pop stores but never adapted with the times then doubled down on a changing business by buying Kmart which has always been just a terrible store.

In desired location the loss is not a big deal it will get swallowed up our Kmart is being transformed right now into a couple retail spots as no one really needs the kind of SF they have.  

All K marts have closed around here.  They have always  had a bad stigma  they were never able to shake.