COLORADO SPRINGS, Colo. - An empty parking lot at the Southgate Sears reflects a stark business reality for the ailing retailer. Sears has been closing stores and selling assets as the company continues to struggle to stay afloat
"Honestly, I haven't been in a Sears since '96 so probably not, but it's kind of surprising, it's always been here," said Andrew Nieminski, a shopper.
Shoppers at the Southgate store say they aren't surprised that the future of the storied retail chain is in question.
"They put their tools up a while back, and I think that was just the beginning" said Denise Hagen, a shopper.
Many of the people say they preferred to shop online, which could also play a factor in the possible closures.
"I think online is a better deal and then it comes to the convenience of coming to your house so it's pretty easy," Nieminski said.
Sears' revenue fell 12 percent last year and 44 percent since 2012.
In an annual filing the department store said, "Our historical operating results indicate substantial doubt exists related to the company's ability to continue as a going concern."
Sears' chief financial officer says the company is doing everything it can to cut costs.