I wrote an article about the demise of Kmart over at my Medium blog. I talk about its heyday and what has happened under Eddie Lampert who seems to be sucking Sears and Kmart dry. Here is a sample:
Other news outlets, such as the New York Post report the same thing: Lampert is stripping the company of its assets and also making sure he makes something off the demise of Sears and Kmart.
I don’t want to say that Kmart would be doing well had it never been purchased by Lampert; as I’ve said already, Kmart (and Sears) were already struggling. I would go further and say that the two retailers probably would have closed up shop anyway without Lampert. But Lampert is killing off the two stores by a thousand paper cuts, little by little. The stores look shabbier and shabbier and more and more stores close, and more parts of the company are sold off. It would be better if the stores just closed all at once, but that would probably not benefit Lampert. So what we have is this slow death, where Kmart especially has become a zombie, shambling through the retail market, slowly disintegrating.
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