It’s no secret that many brick and mortar retailers have been struggling lately. Some examples include:
- Sears has had declining sales the past few quarters and now, in what the Wall Street Journal is calling a “bid for time,” the company has sold its Craftsman tool brand to Stanley Black & Decker for approximately $900 million.
- Macy’s sales and shares have continually dropped, and have thus led the retailer to make many employee cuts numbering near 10,000. It is expected that their locations will continue to close.
- Wet Seal filed for Chapter 11 bankruptcy again last week – the chain plans to close all stores since it was unable to find capital or a buyer in the past year.