126 year old legend soon to be gone

By
Real Estate Broker/Owner with Antonelli Realty 3137972

    Sears and Kmart will soon join the graveyard of deceased American retailers!!! They could not come to terms to save themselves in bankruptcy. Without that deal they will continue liquidation now of all its stores. 

Once known for its iconic catalogs, appliances and department-store variety, Sears fell into disrepair over the last two decades, as stores steadily lost their pep and customers turned their attention to specialty stores and digital competition like Amazon.

The company filed for Chapter 11 bankruptcy protection in October, hoping to use the debt-cutting process to rid itself of burdensome leases, financial liabilities and costs. That process has already involved hundreds of store closings for a company that once had more than 3,000 locations.

Yesterday in a last ditch effort to stay alive they announced 80 more stores closing. It may just take a miracle to keep the 126 year old legend alive at this point.

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Rainmaker
52,192
Cathy Starkweather
La Rosa Realty, LLC. - Celebration, FL

Sad to see such retailers most of us grew up have disappeared and few left.  I have fond memories of shopping with my parents at both these and other retailers as a child. I am an Amazon shopper, yet would still patronize the established retailers if they were around. Both Sears and Kmart in my area closed years ago.

Jan 08, 2019 05:58 AM #1
Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Paul. It is a commentary on the way we live today and in my view, a sad one.

Jan 08, 2019 06:03 AM #2
Rainmaker
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Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

I have many memories of visiting Sears as a child - and even watching my parents buy appliances there ... It is sad to see Lord & Taylor close the doors too...

Jan 08, 2019 06:08 AM #3
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Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

My local Sears had been going down hill for years. Filthy store, short staffed, and about ten degrees hotter than the rest of the mall. Go figure

Jan 08, 2019 06:21 AM #4
Rainmaker
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Mike Baltierra
Rise Realty - Eastvale, CA
Full Service at Your Service Realtor-Eastvale CA

They had a long successful run. I remember a lot of big names that didn't make it half that time. Mervyns, Cicuit City, 

Jan 08, 2019 07:10 AM #5
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Unfortunately Sears just couldn't compete with the likes of Amazon & Walmart. When they started selling off their iconic brands like Craftsman tools the writing was on the wall. Buying Kmart was the death knell.

Jan 08, 2019 03:03 PM #6
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Paul Antonelli

Broker Owner; Antonelli Realty
All our listings are FEATURED on Zillow, Trulia
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