I think upon my own demise I shall blame the Media.. Why not it seems everyone is going that route even though they have been crumbling for years – PB/TK
Sears’ CEO blames the media for company’s decline — but his obsession with Wall Street set it up for failure – By Hayley Patterson / May 21 2017
Sears has survived two world wars and the Great Depression. But after a decade under the control of a former Goldman Sachs executive turned hedge fund manager, the 124-year-old retailer is imploding.
Sales have been cut in half since 2009, and the company is burning through cash, closing hundreds of stores, and selling off assets in an attempt to stanch the bleeding. Executives are fleeing and store workers face a grim future.
A debt repayment from a $500 million loan facility is looming, and some suppliers are trying to cancel contracts and cut back on orders amid fears that the company could soon go bankrupt.
The man in charge of Sears, Edward S. Lampert, has blamed the company’s decline on everything from shifts in consumer spending to the rise of e-commerce, and even — at times — the weather. More recently, he’s taken to attacking the media, saying reports speculating on a Sears bankruptcy are thwarting his efforts to turn the business around.
“Every time people use the word bankruptcy, somebody who reads that doesn’t get past that word,” he told the Chicago Tribune in a recent interview. “It makes it very unfair for us, and it’s a very uneven playing field for us.”
While other retailers are also struggling, analysts take the demise of Sears, which owns Kmart, as a matter of when not if.
Continue to businessinsider.com article: http://www.businessinsider.com/how-eddie-lampert-set-sears-up-to-fail-2017-5
