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Sears has changed the way Americans buy consumer goods, dominating their distribution landscape over nearly a century. But the skills needed to thrive in retail have changed a few decades ago and Sears has not managed to adapt, losing more and more ground for the benefit of its rivals Walmart and Amazon. Earlier this week, the company filed for bankruptcy in Chapter 11. Even if a company version emerges from a bankruptcy proceeding, the company will likely be a shell of its own.
By the time hedge fund manager Eddie Lampert took control of Sears in 2005, the trajectory was already down. Lampert's strategy to lead the company has been controversial, but New York Magazine columnist Josh Barro says Sears' fate may have been inevitable. And in any case, says Josh, we should celebrate Sears' valuable contributions to the US retail business rather than just lament the end.
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