THE BRINK OF BANKRUPTCY.
SUZIE: WE HAVE A LOOK AT THE
RISE AND FALL OF SEARS
IT APPEARS TO BE BUSINESS AS
USUAL OFFERING UP SALES AND FREE
DELIVERY BUT THE WALL STREET
JOURNAL IS REPORTING THAT THE
125-YEAR-OLD RETAILER IS
PREPARING TO FILE FOR BANKRUPTCY
PRESSURE PROTECTION AS EARLY AS
THIS WEEK.
ROXIE HAS BEEN SHOPPING AT
SEARS FOR DECADES.
THIS MORNING WAS NO DIFFERENT.
SHE WAS EXPECTING TO MAKE MORE
BIG PURCHASES
I'M LOOKING FOR A COFFEE
MAKER AND DRYER AND DISHWASHER
SHE HAS WATCHED THE COMPANY
STRUGGLED THROUGH THE CHANGING
RETAIL ENVIRONMENT.
LONG GONE ARE THE DAYS OF THE
MAIL ORDER CATALOG BUSINESS THAT
STARTED IN THE 1880S
THE SEARS OF BACK IN THE DAY,
THEY HAD CANDY, ALL KINDS OF
THINGS.
IT'S A LITTLE DIFFERENT
HUNDREDS OF STORES HAVE
ALREADY CLOSED AND THE COMPANY
RECENTLY ANNOUNCED ANOTHER 46
SEARS AND KMART STORE CLOSING.
THEY HOPE BANKRUPTCY ISN'T THE
NEXT STEP
LARS SAYS ALL SIGNS ARE
POINTING IN THAT BLEAK FINANCIAL
DIRECTION.
IT'S COMPETING WITH THE LIKES OF
WALMART, TARGET AND AMAZON.
BANKRUPTCY PROTECTION
BASICALLY MEANS THEY GET
SOMETHING FROM CREDITORS.
IT DOESN'T MEAN THAT GOING OUT
OF BUSINESS
INVESTORS ARE DUMPING THEIR
SHARES AND THEY ADDED A NEW
MEMBER TO THE BORDER DIRECTOR
WHO IS FAMILIAR WITH BANKRUPTCY
AND RESTRUCTURING.
TOYS "R" US AND ORCHARD SUPPLY
FOUND THEMSELVES AS WELL IN THE
BANKRUPTCY GRAVEYARD
IT'S ONLY A MATTER OF TIME,
STORES WILL BE ABLE TO SURVIVE
FOR ETERNITY
ANOTHER QUESTION WE ASKED,
WHAT WOULD HAPPEN WITH PEOPLE'S
WARRANTIES?
OUR MARKETING EXPERT SAID THOSE
