Sears is in trouble.
The retailer has been bleeding cash and closing hundreds of stores for years.
“That’s typically the start of a retail death spiral,” writes Yahoo News’ Jeff Macke. “Merchants that can’t afford to put goods on the shelf tend not to survive for long.”
In response, Sears called the Bloomberg report “misleading” and said the company has “significant financial flexibility” and that it “continues to meet all of [its] obligations.”
But that did little to reassure investors.
Nicholas Eckhart has been tracking Sears’ downward spiral on his blog DeadAndDyingRetail.com.
The company has closed more than 300 stores since 2010 and at least a half dozen more closures are planned before the end of the year. For this post, we compiled Eckhart’s images of abandoned or dying Sears stores.
This Perrysburg, Ohio Sears Outlet, which was formerly a Kmart, appears to have a lot of empty space available.
This former Kmart store in Solon, Ohio, was converted to a 'Sears Grand' in the early 2000s. The concept failed within a couple years and this is now one of the last remaining 'Sears Grand' stores in operation.
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