More Kmart stores closing

[abefroman329]

And those of us that used to be at least somewhat loyal (I was brought up on Craftsman tools being the "benchmark", right or wrong) and are in the younger age group (I refuse to use the "M" word, at least on myself), have abandoned Sears because of what they've turned themselves into. Other tool brands have taken over, with regards to warranty, durability, ease of acquisition (web, brick & mortar), and innovation.

I hear you - ditto DieHard batteries and Kenmore appliances.

[thenetwork]

I've been hearing that someone just bought the Bon Ton stores and plans to reopen many of the stores that just closed.  Heck, they are doing reboots of old songs, movies, TV and game shows so why not Retail Stores?

[catch22]

I've been hearing that someone just bought the Bon Ton stores and plans to reopen many of the stores that just closed.  Heck, they are doing reboots of old songs, movies, TV and game shows so why not Retail Stores?

DirectBuy obtained the trademarks from the bankruptcy court.  As far as I know, they didn't pick up any of the real estate.  They don't have a good track record with brick-and-mortar; they filed bankruptcy themselves in 2016 and closed all their stores as part of that.  I doubt that we'll see them opening stores any time soon.

[thenetwork]

https://www.marketwatch.com/story/sears-said-to-hire-advisers-as-it-prepares-to-file-for-bankruptcy-2018-10-09

Annnd it looks like the end is in actual sight.  This sounds like the final nail going into the coffin.

[kevinb1994]

https://www.marketwatch.com/story/sears-said-to-hire-advisers-as-it-prepares-to-file-for-bankruptcy-2018-10-09

Annnd it looks like the end is in actual sight.  This sounds like the final nail going into the coffin.

Well it was bound to happen sooner or later. About time!

[SP Cook]

This is an attempt at a "reorgination" but in reality there is not much worth saving. 

Sears, and to a lesser extent K-Mart, still own a good amount of real estate which can be liquidated.  And there is the "intelectual property".  There are bottom feeder firms that will buy brand names and then produce unrelated products under the same name for many decades. 

As to a post mortem, IMHO, K-Mart's collapse can be summed up as Wal-Mart did it better, it joins the 100s of regional retailers Wally killed off.  No real loss.  One big company replaces another.  Sears, on the other hand, has a lot of self-inflicted wounds.  It was fundamentally tone deaf to what retailers call "assortment" which is to say what it carried in its stores; and it fundamentally refused to accept the changing retail environment and to remember that the customer is always right.  Always. 

[inkyatari]

And there is the "intelectual property".  There are bottom feeder firms that will buy brand names and then produce unrelated products under the same name for many decades. 

This is exactly what happened with Atari

[SP Cook]

Not just Atari.  Look at TVs.  Zenith is a more complex story involving actual patents, but most every old brand of TV, radio, or stereo was bought up (Philco, Signature, RCA, Curtis Mathes, Admiril, GE, Magnavox, Motorola, and many others are made today by unrelated companies with no relationship to the orignials.  Making money selling, mostly, to old people who retain brand loyalites.  Somebody even bought the instant camera brand name Polaroid, which never made electronics, and makes Polaroid TVs and computers. 

Also unrelated firms have bought the Wards brand name and the radio shack brand name, both continue on line, as does Sharper Image. 

I'm sure there will be a low market sears.com and cheap Kenmore appliances for years to come.

I surprised the government didn't make GM and Mopar sell off Olds and Plymouth and like that.

[1995hoo]

I think the thing that will always seem so weird as to Sears is that their catalog business was such a strength of theirs for so many years, yet they totally dropped the ball with the advent of e-commerce and they never recovered.

I tried using their website several years ago when I was doing some research in advance of replacing our clothes dryer. It was by far the worst website of the various ones I tried.

[abefroman329]

I think the thing that will always seem so weird as to Sears is that their catalog business was such a strength of theirs for so many years, yet they totally dropped the ball with the advent of e-commerce and they never recovered.

I tried using their website several years ago when I was doing some research in advance of replacing our clothes dryer. It was by far the worst website of the various ones I tried.

A few years ago, I bought clothing on Kmart.com that could be picked up at Sears, but I couldn't return it at Sears, only Kmart. So asinine.

[renegade]

And there is the "intelectual property".  There are bottom feeder firms that will buy brand names and then produce unrelated products under the same name for many decades.

This is exactly what happened with Atari

... and Polaroid.

[hbelkins]

Intellectual property .... I'm betting Craftsman tools are nowhere near the quality they were 10 years ago.

[LM117]

Intellectual property .... I'm betting Craftsman tools are nowhere near the quality they were 10 years ago.

They're not.

[DaBigE]

Intellectual property .... I'm betting Craftsman tools are nowhere near the quality they were 10 years ago.

Definitely not, and certainly no where near the innovation they had during the 'Bob Vila days'. In any case, I though they already sold off Craftsman?

[TheStranger]

Intellectual property .... I'm betting Craftsman tools are nowhere near the quality they were 10 years ago.

Definitely not, and certainly no where near the innovation they had during the 'Bob Vila days'. In any case, I though they already sold off Craftsman?

IIRC Stanley bought Craftsman and Dewalt some time ago (which has resulted in all the brands in that sentence being sponsors of various Joe Gibbs Racing NASCAR entries in the last few years)

[KEVIN_224]

I believe so with Stanley/Black and Decker. New Britain Stadium gave away small little Dewalt branded tape measures before one of the New Britain Bees home games this year.

Even I sometimes wonder if they're really still based here in New Britain or not. The old red "THE STANLEY WORKS" sign, visible from CT Route 72 to the north, is no longer there, from what I've seen. Some of the older buildings from that complex were demolished within the past 1.5 years.

[inkyatari]

Not just Atari.  Look at TVs.  Zenith is a more complex story involving actual patents, but most every old brand of TV, radio, or stereo was bought up (Philco, Signature, RCA, Curtis Mathes, Admiril, GE, Magnavox, Motorola, and many others are made today by unrelated companies with no relationship to the orignials.  Making money selling, mostly, to old people who retain brand loyalites.  Somebody even bought the instant camera brand name Polaroid, which never made electronics, and makes Polaroid TVs and computers. 

Also unrelated firms have bought the Wards brand name and the radio shack brand name, both continue on line, as does Sharper Image. 

I'm sure there will be a low market sears.com and cheap Kenmore appliances for years to come.

I surprised the government didn't make GM and Mopar sell off Olds and Plymouth and like that.

I get that, it's just that Atari is a particular sore spot with me..  Just look at my name!

[Flint1979]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

[SP Cook]

As to Craftsman tools, they are nothing like the real Craftsman tools of previous times, which really would last multi-generations. 

In any event, today's WSJ (paywalled, as always) reports that this really may be the end for Sears and fast Eddie.  Fast Eddie wants a "reorginization bankruptcy" which means the current creditors get screwed, but the debt-o-meter gets reset to zero, so he can borrow money anew, restock the remaining stores, sell more and more of the remaining assets (Kenmore and lots of mall properites) to himself, and push the actual liquidation down the road another year or so. 

So far, no big lenders are willing to even take that risk.  The only loan offers in hand are ones to fund a quick liquidation. 

[jeffandnicole]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

Not until there's a snack bar near the front door with an Icee machine!

[US71]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

Not until there's a snack bar near the front door with an Icee machine!

Like Target?

Closest you'll find at Wal-Mart is McDonald's or Subway (but no Icees)

[Flint1979]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

Not until there's a snack bar near the front door with an Icee machine!

Ok then maybe it's Target that's the new Kmart lol.

[Flint1979]

I've seen Subway locations inside Meijer stores now too.

[inkyatari]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

Not until there's a snack bar near the front door with an Icee machine!

Like Target?

Closest you'll find at Wal-Mart is McDonald's or Subway (but no Icees)

I once saw a Pizza Hut and Cinnabon in a Wal-Mart, but that was 15 years ago

[US71]

Kmart is lost the 80's. Walmart is the new Kmart and some of their stores make you feel like you are in a Kmart.

Not until there's a snack bar near the front door with an Icee machine!

Like Target?

Closest you'll find at Wal-Mart is McDonald's or Subway (but no Icees)

I once saw a Pizza Hut and Cinnabon in a Wal-Mart, but that was 15 years ago

Cinnabon usually sets up with Schlotzky's now days, at least from what I've seen