They are about to file for bankruptcy. Here's what I'd propose as a course of action to save the once iconic brand.
First I'd close all the K-Mart locations. That was a marriage that never should have happened. Then I'd sell off the Kenmore brand which would generate a guaranteed $400 million.
Then I'd come out with an all new catalog and website specializing in goods that are MADE IN THE USA. That would be the new hook. Selling only products made in America. I would keep many of the existing Sears locations as showrooms and distribution hubs.
I'd also play up Sears history in helping to sell products. People would eat that stuff up. Show pictures of products from the 1800's next to today's offerings.
Prices may be higher but people would feel good that they are buying goods made in this country. WalMart for good or bad has become identified with selling products made in China. Play up the American angle.
It's probably the only way to save Sears.