Sears went from the Amazon of his day to declare bankruptcy

New York, United States.

Sears, one of the most iconic companies in the United States, declared bankruptcy after 132 years of existence.

The collapse of the retail store has shown that businesses The centenarians must earn their future.

"Analysts could not compete with Amazon"

Early last week, the company founded in 1886 filed its bankruptcy plan in a New York court. , after seven years of losses reaching $ 11 billion, with which department stores are seeking a sustainable capital structure to deal with the Christmas campaign and restructure the company.

In a statement, the US channel announced a series of measures to achieve a $ 300 million liquidity line, continue streamlining its operating model and "grow profitably in the long run", which includes 188 stores between November and the end of the year

To facilitate these actions, the company submitted its voluntary petition plan in accordance with Chapter 11 of the Bankruptcy Code to the Bankruptcy Court of the Southern District of New York. 19659003] Retail announced on the same official note its intention to continue operations with profitable stores and the Sears and Kmart websites.

Rise and Fall

The founder, Richard Warren Sears, opened the first store in Minneapolis, this was called RW Sears Watch Company. They started selling pocket watches, jewelry and diamonds

In 1893, with Alvah C. Roebuck as a partner, he revived the store and named it Sears, Roebuck & Company. The following year, Sears incorporates a great innovation: the catalog for the sale of products.

Thanks to the catalog, consumers can find out what's in the store and what the prices are, without having to go everywhere. The variety pointed out the store.

Sears was the Amazon of her time. Success was reflected when sales reached $ 750,000 ($ 22 million) in 1893

. Expansion into other markets continued into the middle of the last century and the catalog continued to abound without anyone being able to understand how Sears could differentiate once again. [19659003] Now, this commercial chain has about 900 stores, up from 3,500 previously, and about 90,000 employees, instead of 100,000.