Comment on Work smarter, not harder
Trainguyrom@reddthat.com 9 hours agoWith halfway decent management Sears was in a good position to continue holding a massive and controlling portion of the American household market, the problem is they had inept owners managing the company who managed to snatch bankruptcy from the jaws of success
It doesn’t help that it was owned by a hedge fund that made bank on Sears’ demise such as by saddling Sears with a ton of debt, 40% of which was owned by Sears’ parent company
BarneyPiccolo@lemmy.today 9 hours ago
Oh, I hadn’t realized that Sears was one of those companies that got broken up and sold off, like Toys R Us. That always sucks.
The difference is that Sears wasn’t offering anything that you couldn’t buy from anywhere else, and was struggling against competition in the best of times, while Toys R Us pretty much owned the market, and was doing well when they were murdered as a company. Sears kind of deserved their fate, Toys R Us did not.
Also, it’s amazing that Penny’s, Sears’ primary competition, is still around and doing pretty well, or surviving at least, mostly because they made the jump to online sales in time.
JcbAzPx@lemmy.world 8 hours ago
It wasn’t exactly the same. The guy who bought them was mostly interested in pillaging the real estate, which he sold to himself at a huge discount. He then decided to show off the superiority if his randian philosophy by enacting policies that very quickly destroyed what was left.
Octagon9561@lemmy.ml 7 hours ago
I just went to a JCPenney closing sale the other day while I’m living near a Sears that’s still open haha
BarneyPiccolo@lemmy.today 7 hours ago
I thought all the Sears stores were closed.
Octagon9561@lemmy.ml 7 hours ago
Nope, five are still open.