Sears may be down to its last 24 hours. Iconic retailer likely liquidates if no bid comes in tomorrow.
Sears, the 125-year-old icon, has 24 hours to survive.
The employer of more than 68,000 filed for bankruptcy in October. Its last shot at survival is a $4.6 billion proposal put forward by its chairman, Eddie Lampert, to buy the company out of bankruptcy through his hedge fund, ESL Investments. ESL is the only party offering to buy Sears as a whole, people familiar with the situation tell CNBC. Without that bid or another like it, liquidators will break the company up into pieces.
Adriana Piccoli
omfg
will just showed me
Susan Docherty
Thanks to Amazon.
I grew up with these two companies stores. I got my first tools at Sears. I don’t know why people are so flippant about the demise of these iconic companies.
The SEARS/Roebuck Catalog seemed to be the thing that launched and distilled this brand. And this of course has become antiquated. There’s only so much adapting print media can do, I think. Or maybe that’s not quite right. Like you point out, Scott, there is still a place for smaller, niche magazines. It would have been interesting to see, if decades ago, SEARS had found a way to modularize and personalize their catalog offerings to individual customers, as now seems to be commonplace. In other words, maybe what killed SEARS isn’t the Internet or not the Internet, but rather the fact that Amazon grew faster than retailers’ ability to leverage FB/social media/targeted ads to reach their customers in this suddenly all-important way.