I recently had to transition away from my regional management job at Sears due to the company falling apart. I just heard from a 100% reliable source near the top that Sears will file for bankruptcy protection at some point during the 3rd quarter 2017.
52 replies (most recent on top)
None of us will know until it happens if it happens. The top leaders I am sure would only discuss amongst themselves. I dont buy that anyone knows other than Eddie and Jason what needs to be done and what will happen.
@1cvm, actually I am wondering this.
Is SHC looking at declaring :
Chapter 11 Like the Orginial Kmart did in January 2002 and restructure.
Or Chapter 7 which is complete wind up of the complete company. As in all corporate employees laid off first.
Warehouses/DC's emptied of all product and D.C. Employees Fired/Laid off for good?
Finally all stores closing and either sold or reverted back to the landlord?
Do you know which one they will declare? Is it Chapter 11 or 7?
Not my concern weather you guys believe that my source is credible or not. I just provided you with the info. everyone is entitled to there own opinion. Just save my post and mark my words when 3rd Q rolls around.
@1pja,He/She made me laugh also. I hope this person in "Higher Management" starts looking for a job soon. Corporate employees are the first thing to go in a bankruptcy.
To anyone taking this post seriously, don't forget to look at today's date (April 1st).
August 1st starts the 3rd quarter which makes since, thats when fast Eddie can keep most of the best properties he stole from Sears
@1dqz, you made me laugh! Thank you!
Forgive my ignorance but when is Q3?
We're in Q1 now right, so is 3 in Sept/Oct?
I am a top leader at Sears. Sears Holdings remains focused on executing our transformation plan and will continue to take actions to help ensure our competitiveness and ability to continue to meet our financial obligations. We are firmly focused on improving the operational performance and financial flexibility of Sears Holdings.
when they start liquidating, it will be exposed that all the remaining buildings left that sears owns are crud buckets, falling apart, bug infested, beyond repair, tear it down and start over again stores... the dollar amount that they claim they have in inventory will be way less because they are counting full retail value, as in this everlast shirt is 48 bucks when really its worth 3 to 4 bucks... its gonna be pretty awful.
http://www.retailtouchpoints.com/features/editors-perspective/money-can-t-fix-what-s-broken-at-sears-holdings
This article says bankruptcy will be filed quarter 2...
What chapter?