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Sears, JCPenney (JCP), Neiman Marcus and J. Crew were some of the most distressed companies prior to the outbreak, according to analysts. Many were forced to close stores in the face of declining sales even as unemployment reached a 50-year low.
Now with a record number of Americans filing for jobless benefits, unemployment is likely to be elevated for months if not years to come, further cutting into Americans' appetite and ability to shop. Sears filed for bankruptcy in 2018 and its future has been in doubt ever since.
JCPenney, Neiman Marcus and J. Crew are burdened by crushing debt loads. They're also at risk from declining market share, too many stores, limited online sales and a focus on selling discretionary items, analysts say.

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archipirata
If Sears doesn't survive it isn't from the caronavirus. That might be the last straw but that camels back has been broken for the last decade and more.

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Sarcany
I don't get what the people in charge are doing with Sears.

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Zoidberg
I've read online that department store Dillard's is doing the same, but I cannot find the article anywhere.

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Sarcany

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archipirata
If Sears doesn't survive it isn't from the caronavirus. That might be the last straw but that camels back has been broken for the last decade and more.

I don't get what the people in charge are doing with Sears. They've sold pretty much every property that Sears owned. Every trademark/brand. The stores were cordoned off with yellow tape to keep people from wandering into sections that had no inventory.

Yet, I still have a Sears nearby that was in business right up until late March.

There's a giant "we're still open" sign outside of the store.

They're closed.

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AllGold

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Sarcany
I don't get what the people in charge are doing with Sears.

They're bleeding every dollar out of the carcass they possibly can.

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pRICE cUBE
It probably goes something like this. Buy the brand, take out huge loans to “improve” things while paying themselves and selling off assets. Then declare bankruptcy. Show judge all the “improvements” that were made that just didn’t work out. Money was made on using the loan knowing it won’t be paid back. Institution that gave the business loan has insurance on default so they are willing to loan the money.

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pRICE cUBE

It probably goes something like this. Buy the brand, take out huge loans to “improve” things while paying themselves and selling off assets. Then declare bankruptcy. Show judge all the “improvements” that were made that just didn’t work out. Money was made on using the loan knowing it won’t be paid back. Institution that gave the business loan has insurance on default so they are willing to loan the money.