Another massive loan
10 replies (most recent on top)
I’m sure they are using it to pay those worthless RVP’S and GvPs who “work” from home.
@fz 👍🏻💯 wonder what they will spend on the Christmas party this year….
Our store does not have $136 for a pizza party, it was denied. That’s the financial situation Belk is currently in.
@fz Exactly. Our store is still without A/C in some areas of the store and despite complaints from both customers and employees, it hasn't been fixed. They lie to us and say, "we've had an HVAC technician come and look at it." That was over a year ago and the A/C is still not working.
This was not a new loan for 1.275 billion. This was basically putting all current finances through different lenders all together with Wells Fargo on one plan for better interest and payments. But they were also lended money to use for investment etc, but they don’t have to use the lender money.
@jy I hope so
It’s certainly not be invested at store level, that’s for sure.
I smell a chapter 11 in the next few years.
Where is the money going?
Who here feels like belk is blowing through cash on c suite expenses and not store maintenance and upkeep?