*Sigh*
Sears filed for Chapter 11 bankruptcy today. They expect to close over 100 of the remaining 700 stores immediately, and probably will be lucky to survive as a business entity through the holidays. In fact, the upcoming holiday is the only reason creditors allowed the restructuring; so that they could try and make a little more profit for THEM.
https://www.cnn.com/interactive/2018/10/business/sears-timeline/index.html
I grew up in a Sears "build by numbers" home in Burlington, New Jersey.
mnem
Another casualty of "Trump's America".
Oh spare me this ridiculous hyperbole. Sears has been circling the drain for
decades. They COULD have been what Amazon now is, but lacked the foresight. Their customer service has been abysmal for years, and they'd been going ever cheaper quality wise on their tools for a long time. Their power tools were once among the finest; for at least the past ten-fifteen years they've been crap. (A Craftsman bench grinder my father bought and that is older than I am runs smooth as silk, and you can about shut it off, run upstairs, wash your hands and return before it has completely stopped turning. A more recent version we had at work sounded like a worn out cement mixer full of empty beer cans, and would about walk the table around the room as it ran. A cordless drill barely held a charge from the time it was new; I have a 20 year old Makita that still uses one of its original battery packs.) Their hand tools in recent years were following suit with the 'made in China' rough edges quality slide, and I say this as one who used to almost exclusively buy their hand tools. Now when I need something, I seek out SK, Wera, Armstrong, Wiha and the like.
And the creditors - would those be the entities that Sears OWES MONEY TO? Yeah, can't understand why
they might want to try and get at least some of it back....
It's very unfortunate, but based on the decisions made by Sears management, I found myself with fewer and fewer reasons to go there, considering that the main things I purchased from them were tools, and I like to buy GOOD tools. If you stop selling good tools, then I've no reason to buy tools from you.
Sears is a casualty of their own mismanagement, not "Trump's America", and this bankruptcy has been many years in the making.
-Pat