Would the bumpy road for Sears end or will it lead the store to crash drive? Going by its Black Friday sales, things don’t seem good for the store. The store was bereft of customers; a feature that has become common for some time now.
The Sears store at the Galleria White Plains mall in New York wore a deserted look and the gleaming goods stood forlorn and desolate. Christmas trees stood in rows, sparkling and glistening in anticipation but there were barely three customers or so asking for them. A few loyal customers who happened to visit the store were highly disappointed due to non-availability of mind-boggling bargains.
However, the store does not have many options. With a bankruptcy lawsuit hanging over its head, the store just cannot offer anything for too low prices. Chairman and ex-CEO, Eddie Lampert is fighting hard to save store from the clutches of bankruptcy and aims to appease the senior lenders by making cash during the holiday season. Majority of the stores have dropped down its shutters; it is only the profitable ones like the store at White Plains that are open and working. But will they succeed in giving the much needed monies to keep the store afloat has to be seen.
Lampert has given a rallying call to all his employees and those at the White Plains are quite optimistic about the store’s future. They considered the bankruptcy option as a protective shield donned by the store however; the store did seem very conspicuous by their dismal numbers on early hours of Black Friday morning.
The advent of Amazon and other new players like Home Depot, Lowe, J. C. Penny have made a huge dent in the sales of Sears. The glory of Sears in its heydays will never be achieved today. But can it at least rise like a Phoenix and stand its ground? Only time will tell!