More Sears/kmart closings

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Chapter 7 is personal bankruptcy

A business will file Chapter 11. Under 11, a business can reorganize, like K-Mart did in 2005, or can be forced to totally liquidate if there is not a good reorganization plan, like Ward's did.
 
I see that the KMart in Hillsboro, OH is finally closing. It's about 25 miles SE of where I live, but not in an area I frequent.

The Blue Ash KMart closed two or three years ago, and has now been converted into a Kohl's store. It opened just a few weeks ago, but I haven't been yet.
 
I think whats killing these places, especially Kmart, is the lack of modernization. The few Kmarts I know still in existence look like they are from the early 90s, even in 2017. Had Kmart renovated in the early 2000s and kept doing it, I think they would still be in business. Here is an interesting video on the subject:



As for Sears I would say in addition to little modernization customer service was also to blame. Refusing to let you pay until you opened a card, rude sales people and not enough staff were several things that stood out to me.
 
You're right Iheartmaytag, I got it mixed up. Would Ch 13 be business liquidation?
 
The liquidation of Canadian stores began in October and there's no deals to be had. All their merchandise was sold to a liquidator . First week was 20% off original prices, this week 25%..  More expensive than when Sears had their own sales.  No deals to be found yet idiots are in there buying the crap they could have got 2 months ago for less.   
 
Sears was king when I was growing up. But all things must pass. It's very difficult for brick-and-mortar retail to compete with online shopping.

I'm sitting in an orchestra pit waiting for rehearsal to begin and so far I've ordered two black belts from JC Penney, six boxes of K-cups from Keurig, non-foaming shave gel and filters for the Clear 2 O water pitcher from Amazon, 3 pairs of pants from Dockers and brushes for my face cleaning gizmo from Clarisonic. All of it will be delivered within a few days.

The only things I buy from brick-and-mortar establishments these days are groceries, appliances and cars. So yes, I am part of the problem. Again, it's hard to beat online shopping---especially when you live in the middle of nowhere.
 
Two years ago I ordered my dishwasher form Sears online--they delivered installed.  Sears got it to me faster than the comparable KitchenAid from HD or Lowes (as well as local firms) and had a big sale on the model I wanted.  I've ordered pantry items from HEB twice in the last year that were things I need they no longer carry in my store when they had two specials on shipping.  When I got my new range in May, I ordered the initial complete set on Amazon and additional pieces from BB&B with gift cards and more from Amazon with Discover Cash Back I'd been saving up as well as some Amazon gift cards.  HEB has pulled more items I need for my diet and have be3en able to obtain comparable items from Walmart--coupled with free shipping above $35 in merchandise, cheaper than HEB.  Replenished all my laundry & dishwashing supplies for the year through Walmart.  Just got some new winter house shoes from Amazon last week.  Not being able to drive at night or out of town, online ordering makes it much easier for me. 
 
I doubt it matters

how good or poor holiday season sales are. They've revived a Christmas Wishbook.
More likely as a museum memorium.
I've seen it happen several time with chains. Few by few, they close until all gone. It's just taking longer because there were so many stores.
One food chain here in the mid 80's liquidated following crooked operating shenanigans. The accountant appointed to close and or sell off the stores ended up committing suicide after he realized how many hardships were caused by all the job losses. He was only 32. The chain was Chatham foods. After the Wiseburg family owners retired, it happened. Their top executives were selling goods to Kissel brothers foods of Flint and skimming the money.
There may be a Wikipedia article on it, not that it is all accurate.
Both chains were union, and in those says those jobs paid pretty good.
I doubt the Sears and K Mart closings will have a drastic effect on household survival like those jobs back then did.

There is one family owned chain in the east left, and known as the best to work for. Wegman's based in Chile NY.
In southern California, Stater bros. is still there with 169 stores, but I don't know if the family still owns it. Ralph's is owned by Kroger. Vons may have also been sold. Albertson's at least also is competition for Kroger in the region.
 
I doubt it matters

how good or poor holiday season sales are. They've revived a Christmas Wishbook.
More likely as a museum memorium.
I've seen it happen several time with chains. Few by few, they close until all gone. It's just taking longer because there were so many stores.
One food chain here in the mid 80's liquidated following crooked operating shenanigans. The accountant appointed to close and or sell off the stores ended up committing suicide after he realized how many hardships were caused by all the job losses. He was only 32. The chain was Chatham foods. After the Wiseburg family owners retired, it happened. Their top executives were selling goods to Kissel brothers foods of Flint and skimming the money.
There may be a Wikipedia article on it, not that it is all accurate.
Both chains were union, and in those says those jobs paid pretty good.
I doubt the Sears and K Mart closings will have a drastic effect on household survival like those jobs back then did.

There is one family owned chain in the east left, and known as the best to work for. Wegman's based in Chile NY.
In southern California, Stater bros. is still there with 169 stores, but I don't know if the family still owns it. Ralph's is owned by Kroger. Vons may have also been sold. Albertson's at least also is competition for Kroger in the region.
 
I think Sears and Kmart are largely irrelevant now unfortunately. People don't have much of a high opinion of them in general, and they certainly aren't high on the holiday shopping list. I suppose Sears' appliance department still does fairly well, given Kenmore is still reviewed by several websites and other organizations.

But with so many appliance options these days - Lowes, Home Depot, Best Buy, and smaller appliance stores, there are many options to compare. Same with the tool department.

And most people seem to buy clothes elsewhere.

Kmart allowed themselves to get overtaken by Walmart by not updating and expanding their stores when Walmart got big. And now there's Target and Kohls.

At this point I don't know that Sears and Kmart would be a huge loss, shopping wise, given the popularity of Amazon, which seems to be basically the modern catalog shopping.

One can go in Sears or Kmart and only see a few employees, usually one at jewelry, maybe one at another clothing dept counter, one in shoes, one or two in appliances and a couple in tools. That's about it. I started noticing their cutbacks and unmanned checkout counters around 2008 or so. Maybe it started earlier, but it seemed before that when multiple checkouts open was the norm.

I can remember when Kmart was so busy they had three lanes open on any given day and at one point tried self checkouts. Plus at least one checkout open in the garden center. Now, it's just the customer service counter and maybe one garden center lane open at peak times. And the garden center probably has very few plants if any by now.

One can find deals at Sears on clearance items. A few weeks ago I saw a Kitchen Aid Artisan mixer, display model on sale for $99. Housewares and vacuums can have some pretty good deals when items are returned or old displays.
 
Well, it's official, our local Kmart got the ax in this last go round. Even sadder, is it was supposed to be one of the best performing stores in the state, shows how bad it must be now... Even though I didn't go there often anymore, it will be missed.
 
That 25 year lease ending is interesting as our Kmart that is closing is just now 25 years old, yet I didn't hear that cited as the reason. It makes sense though.
 
I suspected the end was near for the K-Mart in Stevens Point, WI when I was there 2 weeks ago.  I stopped to pick up a new clock radio for our guest bedroom because they only had one brand , and only one model on the shelf.
 
The stores in NH seem to be doing well, none have closed yet...well at least in the last few years. The Sears in my town, Concord, is kept up very well. It looks good and is stocked. Employees are very friendly. I get my vision care done there...best experience I've had so far.

It's happening to all retailers, just more pronounced for K/S.
 
Yeah, in pockets I think they're doing tolerably (NYC, Hawaii/Guam, New England) but the vast bulk of the stores are struggling badly. The lease thing is two-pronged and a bit of a failure loop...landlords don't really want to re-up for a risky retailer (even if the individual store is doing well), plus they can subdivide for more up-to-date retailers. If Sears owns the property, they transferred it off to a subsidiary, Seritage Properties, where they're actively marketing them for other uses...or shrinking the properties while keeping the core of the Sears/KMart store. It's a death spiral.
 

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