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Sears Collapse: A Slow Fade to Zero | Durham News
Sears’ slow, painful decline—from retail giant to just five stores—wasn’t a single crash but a decade-long spiral of missed chances, bad bets, and stubborn resistance to change. Once bigger than Walmart, it couldn’t adapt, clinging to outdated models while competitors surged ahead. Under Eddie Lampert’s 2004 takeover, Sears merged with Kmart, doubled down on asset sales, and slashed investments—spending pennies on store upgrades while selling off real estate through Seritage, sparking lawsuits over self-dealing. Now, with Seritage’s final assets sold, Sears’ retail death rattle is nearly…
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