Thursday, February 9, 2023

It's deja vu all over again: Sears, Roebuck & Company was once a retail pioneer

 
Headline:  Wisconsin State Journal, 2/9/2023

It's the beginning of the end.
The company has avoided a bankruptcy filing for now by completing a complex stock offering that will give it an immediate injection of $225 million in funds and a pledge for $800 million in the future to pay down its current debt load. Bed Bath & Beyond is also shrinking to save money.\ 
The company said it plans to close around 400 of its roughly 760 Bed Bath & Beyond stores. It will keep open its most profitable stores in key markets.

Related reading:

Business Insider, 12/19/2022

Sears closed its Madison WI West Towne Mall stores in September 2018.  The space is now occupied by Hobby Lobby, Total Wine, and Dave and Buster's.

Photo by Retiring Guy


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