Sears Background Information
Sears was an iconic American chain of department stores. Founded by Richard Warren Sears and Alvah Curtis Roebuck in 1892, Sears was originally a mail-order catalog company. It began opening retail locations in the 1920s and for many decades, Sears was a titan in the retail industry, providing a vast range of products such as clothing, appliances, tools, and even houses.
However, by the 21st century, Sears started to face significant challenges. Changes in the retail landscape, increased competition, and shifts in consumer behavior led to a steady decline in its fortunes. In October 2018, the company filed for Chapter 11 bankruptcy protection, announcing it would close hundreds of stores. The company had been struggling to adapt to the rise of e-commerce and changing consumer preferences. In 2021, Sears was operating under the ownership of Transformco, continuing to manage a small number of physical locations, and maintaining its online presence. Sears remains a symbol of American retail history, representing both the heights of success and the challenges inherent in the rapidly evolving retail marketplace.