[PLUG-TALK] Sears doomed

Keith Lofstrom keithl at kl-ic.com
Fri Jun 1 09:08:36 PDT 2018


I ordered an engine part online from Sears Parts Direct, 
and paid $20 extra for "two day expedite", supposedly
from a regional warehouse.  Turns out they don't have
the part or the regional warehouse, and the part is
supposedly backordered from a third party.

Meanwhile, their 2018Q1 report came out yesterday; they
lost half a billion over the quarter, compared to +$250M
for 2017Q1.  Which was cooking the books to get a loan,
they actually lost money that quarter, too, even after
selling their "Craftsman" division and brand).  Sears
Holdings borrowed $1.5 billion at high interest, and
have blown through almost all of it.

They blew through the $50 I paid them, too.  I expect
neither the part, nor a refund.  My losses are tiny
compared to their long term employees, who may lose
their pensions as well as their jobs.

For now, their semi-excellent Sears Parts Direct website,
with detailed parts information and drawings, is still
online.  I suggest you look at your gear (machines,
appliances, etc.) and download manuals and part numbers
while you can.  Don't order anything.

Sears used to be a great company; now they are toast. 
They will probably take K-Mart (their nominal owner)
down with them.  Warn your friends.


Keith

-- 
Keith Lofstrom          keithl at keithl.com


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