Sears is in trouble.
The retailer has been bleeding cash and closing hundreds of stores for years.
Now the stock is taking a beating following a Bloomberg report that a vendor had halted shipments to Sears stores due to liquidity concerns.
“That’s typically the start of a retail death spiral,” writes Yahoo News’ Jeff Macke. “Merchants that can’t afford to put goods on the shelf tend not to survive for long.”
In response, Sears called the Bloomberg report “misleading” and said the company has “significant financial flexibility” and that it “continues to meet all of [its] obligations.”
But that did little to reassure investors.
Nicholas Eckhart has been tracking Sears’ downward spiral on his blog DeadAndDyingRetail.com.
The company has closed more than 300 stores since 2010 and at least a half dozen more closures are planned before the end of the year. For this post, we compiled Eckhart’s images of abandoned or dying Sears stores.
Click here to see the photos »
Read more: http://www.businessinsider.com/photos-of-deserted-sears-stores-2014-10?op=1#ixzz3FwjULUfq
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