For quite some time, Sears has managed to stay afloat by selling off real estate and brands, closing stores, and borrowing huge piles of cash from its CEO, which is not exactly a plan for long-term sustainability. If that all weren’t grim enough, now comes news that raises even more doubt about the future of this once-great retailer. [More]
Sears death watch
Sears To Close Parts Distribution Center In Dallas, Lay Off 77
By 1.6.15
The new year has barely started, but it’s already time to shed a few more tears for Sears. The American retailing legend is trying to stage a comeback as a place where Americans are willing to shop again. Part of that comeback is shedding stores and facilities that it no longer needs. It’s time to add facility to that list: a parts distribution center in Dallas that employs 77 people. [More]
Suppliers Are Concerned That Sears Can’t Pay Its Bills
By 10.6.14
The holiday season is crucial for American retailers, and Sears is trying to make sure that they actually have some merchandise on the shelves in case any customers wander in on their way to another store from the vast, empty parking lot. Filling those shelves will be harder: there are reports that suppliers have less confidence in Sears’ ability to pay its bills than they used to. [More]
$400M Loan From Its Own CEO Is Only 1/10 Of What Sears Needs To Stay Alive
By 9.19.14
I don’t know about you, but if someone loaned me $400 million, it would just about cover all my debts. But I’m not a sagging national retail operation that hasn’t been relevant in decades. If I were, then I’d probably need a much, much, much bigger loan to get out of hock. [More]
Sears Survives For Now, May Not Make It Through 2016
By 9.18.14
Earlier this week, we learned that Sears Holdings Corporation is borrowing $400 million to pay its bills from a hedge fund owned by its own CEO. Yet experts look at this transaction from the outside and wonder: what does it tell us that the company’s own CEO has stopped offering it unsecured credit? [More]
Sears Fails Third-Grade Math
By 5.2.09
Quick, what’s 2 x 15? Did you get 40? No? Then you’re apparently overqualified to run Sears’ website.
Sears Offer To Mail Customer Missing Key To Floor Model Snowblower
By 9.6.08
Aaron visited Sears to pick up a new Craftsman snowblower he bought for 10% off on Sears.com, but the store only had one floor model in stock. Aaron agreed to take the unit after staff assured him that it came with a warranty, manuals, and all the things normally bundled with new snowblowers. Of course, Sears couldn’t find either the manual or the keys. A salesman promised that “Ray from Lawn & Garden” would mail the key whenever he returned, an offer Aaron refused. The salesman then offered a key from another snowblower, promising “the keys are basically universal.” That key didn’t work because, as a different associate later discovered, the unit was missing its electric start socket.
Sears Cancels Your Account Of 44 Years Because Your Husband Died Ten Years Ago. What?
By 6.29.08
Meet Judy, Sears’ ideal customer. When Judy’s husband died ten years ago, Sears, like her other creditors, assured her that she could continue using her account. Since then, Judy has used her Sears card to buy a washer, dryer, and refrigerator. Yet when Judy recently tried to buy a $142 saw, Sears insisted on immediately closing her account because it was in her late-husband’s name.
Help! Sears Is Charging Me Interest On A "0% For 24 Months" Deal And They Won't Stop!
By 6.26.08
Reader Mike asks:
Sears Is Now Officially Too Incompetent To Even Take Your Money
By 6.23.08
Gregg wants us to know that Sears has just hung up on one of the last people in America who hasn’t totally given up on them. He’s spent quite a lot of time lately trying to give them $1500 for a lawn tractor, but they just couldn’t figure out how to complete the transaction. Yes, Sears has finally gotten to the point that they can’t take your money even if you want to give it to them.
