Guest Commentary: Moody’s: “Sears’ and Kmart’s shutdown is imminent”–Internet is Winning

EditorialBy Stephen Frank

 

Years ago I used to shop at W.T. Grant, Woolworths, White Front stores and others that are now found in vintage photo histories of California.  I loved going into the Broadway, May Co and other retail shops looking at the goods.  Times has changed.  Now Moody’s is saying the Kmart and Sears are going into the history books. The way we shop has changed—and they were not able to keep up with the new methods.  Remember getting a Sears catalogue and for a year, you looked at what you wanted to buy.

“In a note published Wednesday, the analysts downgraded Sears’ liquidity rating, saying the company is bleeding cash and will have to continue to rely on outside funding or the sale of assets, such as real estate, to sustain operations.

“We recognize the risks associated with relying on these sources and continued shareholder support to finance its negative operating cash flow which is estimated by Moody’s to be approximately $1.5 billion this year,” the analysts wrote.

Kmart in particular is at risk of shutting down, according to Moody’s.

“The ratings… reflect our view on the uncertainty of the viability of the Kmart franchise in particular given its meaningful market share erosion,” the analysts wrote.”

Amazon and other online based firms are killing brick and mortar—at the same time malls are going to start failing—Macy’s is closing over 100 stores in the nation, many anchor big malls. Sad, but people and our needs change—we want to save time and money—and buying via the Internet means inconveniencing millions of electrons but saving the planet.

Related Article: Moody’s: Sears’ and Kmart’s shutdown is imminent

K Mart: Camarillo, CA -- Google Earth

K Mart: Camarillo, CA — Google Earth:  No Plans to close this store at present


 

Stephen Frank

Stephen Frank: Is the the publisher and editor of the California Political News and Views.  Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant.http://capoliticalnews.com/


 

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