Sears problems continue and worsen

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I've always sort of liked Sears, and liked their appliances.  Makes me sad.  I wonder if we'll be able to pick up their stuff at liquidation?

http://www.businessinsider.com/sears-problems-loom-large-2016-12?utm_content=buffer2ac6b&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

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In a nutshell, asset selloff will continue and company will be gone soon.

Mickie3 (Mar. 22, 2017 @ 11:19a) |

I love it! I'm furnishing an AirB&B rental and almost everything is from Sears or Kmart.

alamo11 (Mar. 22, 2017 @ 11:45a) |


Seen lots of ads on the newspaper about free garage door inspection from Sears Home Services. I am sure that they will f... (more)

fedguy (Mar. 22, 2017 @ 6:42p) |

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What are the chances we would be able to use shop your way points during a liquidation sale? My guess is close to zero.

Time to spend those accumulated points just in case the end is near.

Anybody that didn't see this coming is not just blind, but ignorant. I keep seeing these SYWP postings on FatWallet. Use them now, cause soon they will be worthless. So will the Craftsman Lifetime Warranty.

Haven't bought from Sears or Kmart in many years.

EradicateSpam said:   Anybody that didn't see this coming is not just blind, but ignorant. I keep seeing these SYWP postings on FatWallet. Use them now, cause soon they will be worthless. So will the Craftsman Lifetime Warranty.

Haven't bought from Sears or Kmart in many years.

  The craftsman brands are being shopped and will likely be sold to support ongoing Sears expenses. As such I expect the warranties to be assumed by the buyer. That doesn't mean you won't lose your Sears points, of course.  I also think it will take a lot longer, several years at least, before Sears really falls apart.

MrVietnam said:   What are the chances we would be able to use shop your way points during a liquidation sale? My guess is close to zero.

Time to spend those accumulated points just in case the end is near.

 During individual store liquidations, they've allowed you to use points, at least at the beginning of the liquidation (not sure if they did the whole way through). If they continue to go that route, of the prolonged decade and a half "going out of business" sale they've been doing, I'd say you'll be OK. But if they just abruptly announce plans to close them all, who knows.

The thing is, though, that the signs of imminent gloom and doom have been around for years, and probably at least for the last five years, stories like this have been written about "will this be the last holiday season for them?" I don't think it will be, as I think they are going to keep going on with this non-stop gradual liquidation as long as they can. There will eventually come a point where they can't, though, and there is no telling when that will be.

Really, if you think about it, it is amazing that Kmart even exists to this day. Their original competitors all went down in the 70s and 80s, and then their second set of competitors, Target and WalMart (which also began around the same time as Kmart, but didn't really get a nationwide foothold until the 80s and 90s), sort of went their own direction with WalMart going to supercenters just about everywhere, and Target making themselves known for having clean and well-organized stores with better quality products. As for Sears, I think they could very much still be relevant if they hadn't been bought by Kmart. In the 90s and even through almost 2010, it was a decent place to shop and not really that much different from something like Kohls. Then something just snapped and it became a junk store.

CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.

How long has it been since we saw the thread that said their bankruptcy was "imminent"? Seems it was a few months ago now.

They're doomed.. seems no question about that. Its just a matter of how long do they have?

Our Sears has been closing and under liquidation for the last 3 months now and I've been able to use my Shop Your Way points on everything I've purchased!!

cunkel said:   Our Sears has been closing and under liquidation for the last 3 months now and I've been able to use my Shop Your Way points on everything I've purchased!! That's because the company hasn't filed for bankruptcy protection yet. Those points could disappear VERY quickly.

jerosen said:   How long has it been since we saw the thread that said their bankruptcy was "imminent"? Seems it was a few months ago now.

They're doomed.. seems no question about that. Its just a matter of how long do they have?

  
Radioshack was "doomed" as well. Sure they are a fraction of their former selves, but the storefronts and the name still have value. I would expect the same for the Sears name brand.  

examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

Sears has potential. They need to liquidate 90% of their assets and start over. Focus on ONE core area: Appliances.

I would be very reluctant to recommend any kenmore appliances. Both my dishwasher and freezer needed major service just after the warranty expired. Most of the parts are made in China and/or Mexico. The quality control is not what it used to be. Both appliances were highly rated by Consumer Reports.

After my recent experience trying their points system and their customer service, I totally gave up. Not surprised at all about their continuing decline.

valuephile said:   I would be very reluctant to recommend any kenmore appliances. Both my dishwasher and freezer needed major service just after the warranty expired. Most of the parts are made in China and/or Mexico. The quality control is not what it used to be. Both appliances were highly rated by Consumer Reports.
Kenmore (Sears / Kmart) doesn't make its own appliances (or anything else). It's a brand name (of dubious value) plastered over appliances made by others.
Click here to see who makes the various Kenmore appliances or here for a broader manufacturer list and then check the underlying manufacturer's reliability and reputation to see if you may be buying a Kenmore lemon.  

Liquidation doesn't necessarily mean good prices. Just like the relatively recent Sports Authority closings. Most large companies will use a firm that knows how to liquidate for the best returns. Usually, you'll get better deals during Black Friday, Cyber Monday, after Christmas, etc.

alamo11 said:   Sears has potential. They need to liquidate 90% of their assets and start over. Focus on ONE core area: Appliances.
  
I would think that tools are where its at. Craftsman is a respected brand, quality is good, and the stores are the support network.

The thing that's holding them back, IMHO, is a crummy e-commerce platform. I'm always getting weird error messages, orders often disappear from my account, etc. It's not unsalvagable, though, a little work and it's be great. The store pickup experience is already the best out there.

I agree that Sears should strictly focus on appliances and tools. Sears should be competing with Home Depot and Lowe's, and giving them a run for their money. I never understood why Sears continued to operate like a deparment store offering clothing, housewares, toys, etc when the writing was on the wall.

xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

FountainRunner57 said:   I agree that Sears should strictly focus on appliances and tools. Sears should be competing with Home Depot and Lowe's, and giving them a run for their money. I never understood why Sears continued to operate like a deparment store offering clothing, housewares, toys, etc when the writing was on the wall.
  This is the thing. Home Depot has really eaten into Sears hardware business. Kohl's has taken away from their clothing/fashion business, WalMart has taken away from their Toy business. Plus now Amazon is in the feeding frenzy too!

The Sears brand certainly has a huge amount of nostalgia with it, and Craftsman tools is still respected. If Sears were to go into bankruptcy (and they have been circling the drain for some time now) the Craftsman brand would likely be acquired by another retailer. You would think that it might be the logical choice Ace Hardware, but a big box like Home Depot could make it their own. Home Depot could re-brand their "Husky" tools and make them more competitive. Husky tools are pretty high quality, but the name is really forgettable imho.

BucknifeJones said:   
jerosen said:   How long has it been since we saw the thread that said their bankruptcy was "imminent"? Seems it was a few months ago now.

They're doomed.. seems no question about that. Its just a matter of how long do they have?

  
Radioshack was "doomed" as well. Sure they are a fraction of their former selves, but the storefronts and the name still have value. I would expect the same for the Sears name brand.  

  
I still don't know how Radio shack is still alive.   Can someone explain that to me?   Seriously.

Maybe I should have said "doomed to bankruptcy" rather than just "doomed".
I don't think Sears/Kmart will just go bankrupt and disappear.     The assets are too valuable for that too happen and the CEO has too much of a stake in it.    
But they are bleeding tons of money and things certainly do not look like they're getting better.   So eventually their debt might kill them or at least just force some major changes partial  liquidiation, etc along with debt restructuring.
 

In the meantime they need to keep giving me free stuff via SYW deals. And I'll keep cashing out the SYW points as soon as I get them just in case they are magically made worthless one day soon.

doveroftke said:   I would think that tools are where its at. Craftsman is a respected brand, quality is good, and the stores are the support network.

The thing that's holding them back, IMHO, is a crummy e-commerce platform. I'm always getting weird error messages, orders often disappear from my account, etc. It's not unsalvagable, though, a little work and it's be great. The store pickup experience is already the best out there.
Craftsman WAS a respected brand with good quality, but now it's just a ghost. I've been reading reviews on some of their tools, and people often complain that it's all crap made in China that doesn't last as long as the previous version of the same tool did. They need to bring tools manufacturing back to US (or maybe Japan, really anywhere with better quality controls).

I agree, Sears.com is horrible.

examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Right. Eddie is just playing this out for his own personal gain. He will end up making a fortune from this. Everyone else, including investors, will be screwed.

jerosen said:   How long has it been since we saw the thread that said their bankruptcy was "imminent"? Seems it was a few months ago now.


 

  
and they've now introduced tipping at the registers when you checkout

honestly i dont know how they have lasted this long...i think Ringplus must be doing their points for dollars scheme...mayby if they move to Mexico ???

examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Maybe when they were MADE, but in many cases that property value is going down fast.  Sears (and Kmart) are oft in very old quickly dying malls.  Plus once those last Sears close  (I give it about 3-5 years but when it goes it will be rapid) many of those malls will implode with them.

I remember a dying mall (both anchors had gone under in the same year) in Upstate NY.  There were only 6-8 stores open with a lot of empties between.   Two of them were the only stores I shopped in malls regularly -- a bookstore and a SunCoast.  Oddly the bookstore was one of the upgraded Waldenbooks, not sure why THAT one got the upgrade.  Next time I was in the area that mall was closed and the interior hallway was locked.  One of the anchor plots was a fleamarket and the outside access restaurant was a fairly low market replacement for the old one.  

I was a proponent of them focusing on only appliance stores and hardware, but just recently they closed a nearby appliance showroom and a Sears Hardware store. They were never busy when I went into either of them. So I've got to think all the news is scaring people away. It's a shame since I always used to buy Kenmore appliances.

xerty said:   
EradicateSpam said:   Anybody that didn't see this coming is not just blind, but ignorant. I keep seeing these SYWP postings on FatWallet. Use them now, cause soon they will be worthless. So will the Craftsman Lifetime Warranty.

Haven't bought from Sears or Kmart in many years.

  The craftsman brands are being shopped and will likely be sold to support ongoing Sears expenses. As such I expect the warranties to be assumed by the buyer. That doesn't mean you won't lose your Sears points, of course.  I also think it will take a lot longer, several years at least, before Sears really falls apart.

  
Considering I know people who work in Hoffman Estates and their full time job is to manage store closings, I would say that no one can predict how long before they pull the plug on ALL remaining stores.  Considering how many stores they have closed already, they have the talent to managing closing them all at once.

I think the process has dragged out as long as it did because of weird reasons like Sears had so much valuable real estate.

Sears as a company has plenty of problems, but all of the problems are not endemic across every single store. Each individual Sears store might have a different issue than the store on the other side of town/state. Focusing only on appliances/tools could be a horrible move for many stores that have a Home Depot/Lowes nearby. The Sears store closest to me is in a mall that is actually doing a decent job of hanging on. That's actually Sears' biggest problem here. There is tons of development around the mall and everything that Sears offers is offered somewhere else within a 5 minute drive, likely cheaper (except for Lands' End). There is a Best Buy, Lowe's, Kohl's, Home Depot, Macy's, WalMart all a stone's throw away. Focusing on appliances/tools might work in the places where Sears/Kmart is the only game in town, but if there's a Home Depot or Lowe's nearby, why bother going to Sears and not knowing if they are going to have the tool you need?

My dumb idea... Sears should pivot to becoming a bargain camping outlet. Become the Harbor Freight version of REI/L.L. Bean. The products are manly/rugged so they would still be able to keep the dependability reputation they have built over the years. Their competitors I named above aren't into that product line too heavily. As long as they tried to compete on price, they could make it happen. Don't offer top end stuff, offer cheaper made in china stuff that will only last 1/2 seasons. They won't get the hardcore camper that needs the $150 sleeping bag, but they will get the guy that's going to WalMart for a cheap Coleman grill and tent that is bummed he only has one option at his price point. Of course, I have no idea how well or poorly the REI/LL Bean/Cabelas/Bass Pros are doing right now, so this might be a horrible idea, but if they want a chance at actually staying afloat longer than a couple more years, I say risk it and try something drastic.

RedWolfe01 said:   
examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Maybe when they were MADE, but in many cases that property value is going down fast.  Sears (and Kmart ) are oft in very old quickly dying malls.  Plus once those last Sears close  (I give it about 3-5 years but when it goes it will be rapid) many of those malls will implode with them.

I remember a dying mall (both anchors had gone under in the same year) in Upstate NY.  There were only 6-8 stores open with a lot of empties between.   Two of them were the only stores I shopped in malls regularly -- a bookstore and a SunCoast.  Oddly the bookstore was one of the upgraded Waldenbooks, not sure why THAT one got the upgrade.  Next time I was in the area that mall was closed and the interior hallway was locked.  One of the anchor plots was a fleamarket and the outside access restaurant was a fairly low market replacement for the old one.  

  
Sounds a lot like the Dutchess Mall in Fishkill.  The two anchors (Jamesway and Service Merchandise) went out almost at the same time, and a flea market took the place of the Service Merchandise.  I haven't been there in years, but I think they've demolished the main part of the mall and have a Home Depot on site now.


I think Sears is in liquidation. Lambert doesnt want put people out of jobs in one go. So, he is doing a slow bleed to death. In BK, the value will go down a lot for brands. But this way he can get more money out of it.

RedWolfe01 said:   
examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Maybe when they were MADE, but in many cases that property value is going down fast.  Sears (and Kmart ) are oft in very old quickly dying malls.  Plus once those last Sears close  (I give it about 3-5 years but when it goes it will be rapid) many of those malls will implode with them.

I remember a dying mall (both anchors had gone under in the same year) in Upstate NY.  There were only 6-8 stores open with a lot of empties between.   Two of them were the only stores I shopped in malls regularly -- a bookstore and a SunCoast.  Oddly the bookstore was one of the upgraded Waldenbooks, not sure why THAT one got the upgrade.  Next time I was in the area that mall was closed and the interior hallway was locked.  One of the anchor plots was a fleamarket and the outside access restaurant was a fairly low market replacement for the old one.  

  In Southern California, Sears has some excellent locations that are quite valuable.  There is one in particular in Santa Monica where the land value alone is worth a fortune. In much of California, Sears real estate has appreciated significantly in the last few years. They have many upscale locations. 

sullim4 said:   
RedWolfe01 said:   
examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Maybe when they were MADE, but in many cases that property value is going down fast.  Sears (and Kmart ) are oft in very old quickly dying malls.  Plus once those last Sears close  (I give it about 3-5 years but when it goes it will be rapid) many of those malls will implode with them.

I remember a dying mall (both anchors had gone under in the same year) in Upstate NY.  There were only 6-8 stores open with a lot of empties between.   Two of them were the only stores I shopped in malls regularly -- a bookstore and a SunCoast.  Oddly the bookstore was one of the upgraded Waldenbooks, not sure why THAT one got the upgrade.  Next time I was in the area that mall was closed and the interior hallway was locked.  One of the anchor plots was a fleamarket and the outside access restaurant was a fairly low market replacement for the old one.  

  
Sounds a lot like the Dutchess Mall in Fishkill.  The two anchors (Jamesway and Service Merchandise) went out almost at the same time, and a flea market took the place of the Service Merchandise.  I haven't been there in years, but I think they've demolished the main part of the mall and have a Home Depot on site now.

  
More than just SOUNDS like the old Dutchess Mall.    I was working on a project at Phillips/IBM, and staying at the Courtyard
on the other side of the Interstate.   Map agrees with you, just a flea market and a Home Depot now.

It didn't help that there are two neighboring malls between Fishkill and Poughkeepsie either.   Looking at a map it looks like one of those has closed as well. 

examiner44 said:   
RedWolfe01 said:   
examiner44 said:   
xerty said:   
examiner44 said:   CEO Lambert will continue to enrich himself at the expense of the shareholders. There is no way to turn this company around. The logical move is a voluntary liquidation where the company sells off all assets, pays off any outstanding debt, and returns any excess to the shareholders. Unfortunately, Lambert will just continue to operate the company until it bleeds to death, at which point he will file bankruptcy and the creditors and shareholders will get nothing.
  You realize Lambert is one of the biggest shareholders and creditors, right?  Aside from owning about half the stock, he owns lots of the 2019 unsecured debt as well as having bought more debt from his hedge fund recently.  He has every reason to try to turn them around (good luck), and every reason to try to keep them around as long as possible otherwise.  It's probably not going to work, but claiming there's a conflict of interest here is laughable.  They are selling off stores and real estate piecemeal as well as other corporate assets, but given how much of all mall space they own in the US, trying to do a fire sale all at once would significantly hurt the liquidation value.

  Much of the Sears debt that he owns is secured by Sears real estate. Some analysts believe he significantly undervalued the real estate when the loans were made. 

  
Maybe when they were MADE, but in many cases that property value is going down fast.  Sears (and Kmart ) are oft in very old quickly dying malls.  Plus once those last Sears close  (I give it about 3-5 years but when it goes it will be rapid) many of those malls will implode with them.

I remember a dying mall (both anchors had gone under in the same year) in Upstate NY.  There were only 6-8 stores open with a lot of empties between.   Two of them were the only stores I shopped in malls regularly -- a bookstore and a SunCoast.  Oddly the bookstore was one of the upgraded Waldenbooks, not sure why THAT one got the upgrade.  Next time I was in the area that mall was closed and the interior hallway was locked.  One of the anchor plots was a fleamarket and the outside access restaurant was a fairly low market replacement for the old one.  

  In Southern California, Sears has some excellent locations that are quite valuable.  There is one in particular in Santa Monica where the land value alone is worth a fortune. In much of California, Sears real estate has appreciated significantly in the last few years. They have many upscale locations. 

  Yeah, but nationally it's not so good:

"But 'only 25 percent of Sears locations are in ‘A’ markets.'"
http://icsc.org/sct/newswire/changes-in-sears-5-billion-real-est...

MrVietnam said:   What are the chances we would be able to use shop your way points during a liquidation sale? My guess is close to zero.

Time to spend those accumulated points just in case the end is near.

  Our Sears started their liquidation sale back in the beginning of October or there about. They accepted and gave SYWP for any purchases made during the liquidation. Kmart will be the only stores in the area to use the points on as they are in their last week of operating the Sears.

RShea said:   
  Our Sears started their liquidation sale back in the beginning of October or there about. They accepted and gave SYWP for any purchases made during the liquidation. Kmart will be the only stores in the area to use the points on as they are in their last week of operating the Sears. 

  
Where I live, it has been quite the opposite. We've lost every Kmart store but 1, but when it comes to Sears, they're all still intact here, and we've not had a single Sears store close at all in the Eddie Lampert era (though one did lose their auto center about a year or so ago). And as far as the Sears stores we have here, they are all prime real estate, including one that is sort of a buzzkill on an otherwise busy and upscale mall.

xerty said:   
EradicateSpam said:   Anybody that didn't see this coming is not just blind, but ignorant. I keep seeing these SYWP postings on FatWallet. Use them now, cause soon they will be worthless. So will the Craftsman Lifetime Warranty.

Haven't bought from Sears or Kmart in many years.

  The craftsman brands are being shopped and will likely be sold to support ongoing Sears expenses. As such I expect the warranties to be assumed by the buyer. That doesn't mean you won't lose your Sears points, of course.  I also think it will take a lot longer, several years at least, before Sears really falls apart.

  ...it's been several years already.

Skipping 79 Messages...

Seen lots of ads on the newspaper about free garage door inspection from Sears Home Services. I am sure that they will find something wrong with your garage door. 
 



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