Sears is closing and tradesmen are horrified

Economy

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Sears is demonstrating that it’s perhaps the saddest and most prominent victim of the so-called ‘retail apocalypse’ sweeping across the U.S.  Sears, which is owned by Transform Holdco, is set to close 51 total stores by February 2020, according to a press release from the parent company. And as tradesmen we are horrified, the very thought of losing the immediate gratification from trying on your first pair of Die-Hard boots, or purchasing that classic ruby red Craftsman speed square, is sending chills down the backs of construction pros everywhere.

Our beloved Sears narrowly escaped complete shut-down after filing for bankruptcy in the fall of 2018. Since then, more than 250 stores have closed their doors. In the past 15 years Sears and it's partner Kmart have closed more than 3,500 stores and cut about 250,000 jobs, according to USA Today.

After this new round of closings and previously announced closings, this once grand jewel of the retail industry that traces its roots back 133 years will have just 182 stores nationwide. 

CLICK LINK FOR LIST OF SEARS STORES CLOSING IN 2020

BUT NOW WHAT? WHERE WILL WE BUY OUR BELOVED BRANDS, DIE-HARD, CRAFTSMAN, AND THE WIDE VARIETIES OF TIMBERLAND PRO, AND  DICKIES???

First sold in 1927, Craftsman was the flagship brand in the Sears tool section. For 90 years this esteemed brand name was synonymous with quality manufacturing, affordable pricing, and an almost legendary lifetime warranty. These three traits meant that it was almost impossible to find an American garage or workshop that didn’t have at least some Craftsman tools hanging on the walls, familyhandyman.com

"After careful review of where we are today, we believe the right course for the company is to accelerate the expansion of our smaller store formats which includes opening additional Home & Life stores and adding several hundred Sears Hometown stores after the Sears Hometown and Outlet transaction closes," the company said in a press release.

So according to release, the new closings do not affect the company's recently acquired Sears Hometown stores, which specialize in home appliances, equipment and tools from the Sears line of products like Whirlpool, Craftsman, Kenmore and Die Hard. Our beloved brands, but also other brands as well.

According to theadvocate.com:

The Hometown and Outlet stores have been insulated somewhat from Sears’ struggles in recent years. The Hometown and Outlet stores, however, have struggled as many retailers nationwide have had to downsize. The company reported a net loss of $3 million in the fourth quarter of 2018 compared to the previous year and $41.6 million for the year compared to 2017.

Last month the Hometown and Outlet Stores rejected an offer from a company affiliated with the hedge fund controlled by former Sears CEO Eddie Lampert to buy all the remaining Sears Hometown stock not already owned by the fund. Lampert, a CEO who was once kidnapped and held for ransom, according to some reports, is interested in closing the Hometown stores.

"In many cases, the smaller towns or less affluent areas of the country where there's not much hustle and bustle or competition are where people still want to go someplace to shop,” said Jake Dollarhide, a Tulsa, Oklahoma-based investment adviser and retail analyst. “They don't want to pay for Amazon Prime or delivery charges and instead want to go get the products they need now at stores they know nearby."

BLACKTRADESMEN.US WILL FOREVER LOVE DIE HARD BOOTS!!! XOXO