I see other legacy companies like Sears who have failed to realize the impact of the internet on commerce.
That may be part of the answer. But to me what killed them was the Chinafication of their products.
Craftsmen tools were once one of the best values you could find—quality tools fairly priced. I liked Sears work boots and work clothes. Again, quality made at a fair price. Their appliances were as good as any on the market.
I once had a Kenmore washer that was still going strong after 25 years. It may be still going strong for all I know. I left it with my old house 20 years ago. I liked Sears work boots and work clothes. Again, quality made at a fair price.
I imagine now Sears sells whatever their Chinese brokers are pushing this year.