Part 6/13:
Eddie Lampert and Sears’ Slow Collapse
Once a dominant force in American retail, Sears faced its demise under the stewardship of Eddie Lampert. Controlling Sears and Kmart from 2005, Lampert prioritized cost-cutting and asset liquidation over meaningful investment in stores, leading to the erosion of customer loyalty. He sold off valuable real estate and brands like Craftsman, treating the companies as mere portfolios rather than community retailers.
This systematic underinvestment and neglect caused a steady decline, culminating in bankruptcy. Lampert’s approach, once hailed as visionary, is now viewed as a textbook example of how asset stripping and short-term thinking can destroy historic brands.