Tuesday, January 31, 2017

Kmart/Sears About To Go Belly Up

Once upon a time Kmart/Sears used to be a big box store chain located in the United States, perhaps bigger than Wal-Mart at one time.
Now, they are about to go out of business.
From News Talk Florida: Sears is using everything in its power to keep the company from drowning, but in the latest turn of events the retailer laid off an unspecified number of full-time Kmart employees.
According to Business Insider, the layoffs were confirmed, noting that the employees let go were full-time managers or department heads in charge of driving, backrooms and customer-facing services at Kmart stores across the country.
Business Insider said a spokesman for the company declined to say how many people were affected by the cuts, but that not all Kmart stores were affected or witness employees being laid off.
“Eliminating positions is never an easy decision to make, and we don’t take it lightly as we recognize the valuable contributions affected associates make to the company,” spokesman Howard Riefs said to Business Insider.
According to two anonymous Kmart workers, Business Insider said that nearly 800 stores were affected by the cuts. On message boards, employees of the retailer say the stores now have “skeletal” staff and that the company has executed the layoffs as a way to keep the stores simple. https://www.newstalkflorida.com/featured/kmart-lays-off-full-time-employees/
I work part time at Kmart and we are in desperate times. Just our store alone, our sales are down over $2,000,000 from 2 years ago.
Part of the reason is that Kmart and Sears rarely advertise.  Another reason is that we are trying to get the younger customers ignoring everyone else, especially older customers who would rather shop at kmart than Wal-Mart.   It seems Kmart/Sears main selling point is "We are not Wal-Mart ".
I would not be shocked if Kmart/Sears files for bankruptcy within the year.

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