Brutal closure of 16 retail behemoth in US The pandemic and recent external factors have been most unkind to the biggest of the retail establiishments in the US It is incredible that this should happen in USA - the most powerful and strongest nation and earth and center of most excellent management.
The management did not pay attention to the wings of change:
1. The shift to on line shopping Amazon was ready and poised to take advantage of this development
Even CVS which is engaged in health products was not exempt. Health products should have been
failure proof.. Shoppers did not need to go to brick and mortar store. They simply order online and
delivery companies handle the rest
2. Quality, high end garments like Brooks, JCPenney failed because WFH did not require elegant suits.
3. As usual, vulture investors were waiting in the wings and ready to rehab and rejuvenate many of the
failing companies Some were usually behind hope like Sears. (This follows the business truism that
wealth is not destroyed, it is simply transferred - I disagree Wealth can be lost by fire or theft)
4. High gasoline prices and other effects of inflation lessened shopping money
