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Industry experts remain skeptical of his ability to revive Sears, saying he is still neglecting stores. Lampert lent some money of his own, but critics say he never invested in the stores, which grew increasingly dingy.Įven after all of Sears’ pain, Lampert argued during its bankruptcy that he was its best chance. Selling well-known brands, like its Craftsman tools, and spinning off stores were cash infusions that helped Sears survive. Sears was hit hard during the recession a decade ago and never recovered. Lampert combined Sears and Kmart in 2005, pledging to return Sears to greatness.

Sears once towered over the retail landscape but has been on a slow decline for years. Normally it would be packed at this time.” “I was surprised when I went to the parking lot. “There’s not much customers around,” the teacher from Jersey City said. Peter Doliente bought himself a Seiko watch at the store for $200, down from $500. Empty paint cans were marked down to $2 each with the discount. Now, Lands’ End clothing is on clearance, and Sears was even selling its mannequins at the Jersey City store for $75, with an additional 60% Black Friday discount. Lands’ End, a clothing brand that was once a big draw when Sears purchased it in 2002 but was spun off in 2014, is nearing the end of its remaining leases, due to expire next month. None were for major electronics - one of the reasons people used to go to Sears. Its revised circular for Black Friday had eight pages of deals, less than a quarter of the size last year, according to Edgar Dworsky, founder and editor of Boston-based consumer advocacy website Consumer World. The supplier issue is showing up in Sears’ advertising. One vendor, Stolaas, has stopped selling refurbished Apple gadgets on Sears’ website because it wasn’t getting paid, said David Wander, a bankruptcy attorney at Davidoff Hutcher & Citron who represents Stolaas. Few shoppers were in the store and the toy section had no Legos or Hatchimals, even though signs indicated they would be there.Ī store needs to have stuff on its shelves to attract customers, and Sears is having issues with some suppliers cutting it off. The signs at Sears are ominous heading into the holidays, when retailers acquire new customers.īlack Friday was bleak at its store in Jersey City, New Jersey, where an unplugged Christmas tree sat on top of a round table by the entrance. He was the only buyer who offered Sears a lifeline at all - other bidders just wanted to liquidate the chain - but he had already presided over a long decline of Sears going back more than a decade. Lampert’s failure comes as no surprise to industry experts.

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It also puts more pressure on malls, which must figure out how to fill the gaping holes left by Sears. There are fewer choices for shoppers and suppliers.

Thousands of jobs are gone, although Sears’ owner through a spokesman declined to say how many since Lampert bought the company out of bankruptcy in February.

The ever-shrinking Sears means more job losses. “They used to be top of mind, particularly during this time of year,” said Coye Nokes, a partner at OC & C Strategy Consultants.

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