Sears, the Original Everything Store, Nears a Bankruptcy Filing [View all]
Sears more than a century ago pioneered the strategy of selling everything to everyone.
But it has long since given up that mantle as a retail innovator. It was overtaken first by big box retailers like Walmart and Home Depot and then, by Amazon as the go-to shopping destinations for clothing, tools and appliances.
In the last decade, Sears had been run by a hedge fund manager, Edward S. Lampert, who sold off many of the company’s valuable properties and brands, but failed to develop a winning strategy to entice consumers who increasingly shop online.
The result has been a long painful decline. A decade ago, the company employed 302,000. Today, there are about 68,000 people still working at Sears and Kmart, which Mr. Lampert also runs.
https://www.msn.com/en-us/money/companies/sears-the-original-everything-store-nears-a-bankruptcy-filing/ar-BBOmKiJ?li=BBnb7Kz
In the interest of brevity and DU rules. I couldn't post much more of this article but it does suggest hedge fund manager Lambert may bear a lot of the blame for Sears' failure.
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