https://www.bloomberg.com/news/articles/2018-10-15/sears-said-to-be-filing-for-bankruptcy-protection-monday-morning https://www.foxbusiness.com/markets/sears-ceo-steps-in-for-bankruptcy-financing-report... — read more
Stock price tomorrow will probably be about 5 cents
Any buyers? The only problem is you will be stuck with the $5.8B debt, as well as crumbling stores, a systems that are a shambles, and lawsuits from vendors, communities, and everyone who has ever been wronged by Sears or Kmart.
This debacle started LONG before Eddie Lampert
Sears used to be a conglomerate that included Allstate, Coldwell Banker, Dean Witter, and a few more smaller companies. Corporate raiders made the companies split up, or as they called it, spin-off, into separate companies. This was done in the name... — read more
Sears ready to file bankruptcy later tonight as former US retail giant tries to stay alive
https://www.cnbc.com/2018/10/14/sears-ready-to-file-bankruptcy-later-tonight-in-fight-to-stay-alive.html Sears ready to file bankruptcy later tonight as former US retail giant tries to stay alive Sears Holdings plans to file for bankruptcy protection... — read more
Every day that passes, the so-called "Doomers"
are proven more and more correct. Well. calling people who disagree with you names is childish and proof you cannot handle opposing views, probably because you lack the ability to adapt to change, and so you fear change. Those who are objective and... — read more
ESL TO Provide Part of the DIP!
... If true; this might be the oddest bankruptcy filing ever. Lampert has (reportedly) proposed to offer approx. $500 million dollars of the DIP through his ESL hedge fund.
Na zdraví! opleskiv! Saluti! Stin ygeiá sas! uzbuđenja!
As I sit here with my bottle of Medivka , it's been an experience. Good wishes for whatever you will all do beyond Sears. The end is coming and the endless headache is almost over. Good times and bad are all part of the journey my friends, so Cheers!
Peggy Mitchell- Will She be Fired? (Chicago Ridge, Ill)
The company’s decline has also exacted a toll on its workers. Peggy Mitchell, 55, who works full time unloading delivery trucks at the Sears in Chicago Ridge, Ill., said she barely makes enough to make ends meet. Ms. Mitchell, who has four children... — read more
The mice are moving in!
I just dealt with a member who returned a washer and dryer the same day it was bought for no other reason than they found mice p--p right on top of the dryer when they unboxed it. All of the washer and dryer boxes have little rectangular holes on... — read more
Monday Morning
There will be no bankruptcy announcement tomorrow morning. All you nay sayers have been looking to stick a fork in this company for years. Yes we are closing stores but all of retail is changing. When the dust settles and you are working for this... — read more
Ever crossed your mind....
That what Sears is doing is illogical? It's costing them billions to drag this on like they are, and no, Eddie is not recouping his losses, he is losing money. Yes, he is doing his best to mitigate them, but make no mistake, he is still losing money... — read more
Sears, the Original Everything Store, Nears a Bankruptcy Filing
New York Times: 10/14/18 5:28 p.m. Founded after the Civil War, the original Sears, Roebuck & Co. developed a catalog business that sold the latest dresses, toys, build-it-yourself houses and even tombstones. The company’s stores, which began to... — read more
Breaking News
Sears will not be filing bankruptcy!
WHEN?!
By when the hell are they going to announce this damn thing?!
Finish this sentence.
No news is good news with ....
Sears Home Seevices - During Chapter 11
Will they keep it going under the 11 filing or will it be shut down with all the other stores? Does it actuall make money for sears? If yes, will stay up. If no, will close immediatly. Would be nice to know if it makes money or not.
Here’s where Sears got it wrong
I don't even know if it matters anymore, and it’s definitely not my intention to rub salt into anybody's wound, but as we face the fact that BK is unavoidable it’s becoming more and more clear that Sears started going in the wrong direction many... — read more
Sunday Update:Sears: Will It Shrink, or Close?-Oct. 14, 2018 7:00 a.m. ET
By Lillian Rizzo and Soma Biswas Oct. 14, 2018 7:00 a.m. ET As Sears Holdings Corp. SHLD 18.97% plans to file for chapter 11 protection Sunday, the big question is whether a smaller Sears emerges from bankruptcy or whether the filing leads to a... — read more
If ch 7 is filed and made public on Sunday 10/14/18
Will we report to work as usual on Monday? Or will the doors be locked until the liquidators arrive? How will we be notified if ch 7 is announced after the store closes on Sunday? You wd think there wd be some kind of direction from management
The lower the payroll is, the more money there is to pay the creditors
I hate to say this, but there is no parachute for the little guy. The fact remains that payroll high overhead, but easily adjusted. The goal in either C11 or C7 is to pay back creditors. The fastest way to get cash is to fire people. So what will... — read more
Keeping everyone in the dark
I am a manager and we had a morning meeting as usual. Our sgm was off yesterday, so our zs did the meeting. Right now it’s business as usual, and store managers know just as much as the rest of us. Leave everyone out of the loop until the last... — read more
Layaways/Bankruptcy
What happens to the customers layaways if the company files bankruptcy? Will they have a chance to come and pay them off to pick them up?
$11 billion to $40 million. 'Nuff said.
I hope bankruptcy hits Sears like a train and destroys every last bit of its overdue non-existence. Sears is a relic of the past and should have gone down with Montgomery Wards. Eddie Lampert has simply siphoned off any asset worth developing to... — read more
Whatever happens S S Kresge company has an amazing record!!
Almost all retailers fail eventually, how many retailers even ones that are popular, successful, and profitable today can say they have longevity and success like S S Kresge? Most will come and go, but S S Kresge is a fighter and has survived ups and... — read more
Points in instalments
Surely if it's ch 7 they'll give them to us all at once?
points balance
Do ya think they will wipe out our points balance come Monday?
In home services is a profitable business
Home Services is a profitable part of Sears. Unfortunately it was not profitable enough to keep retail stores afloat. In Home service is worth more, as a whole, then it would be if it is closed and assets sold. Someone including Ed might want to... — read more
Round Rock Texas Call Center
If SHLD files BK- is it business as usual for the STAC technicians that answer calls from field techs- and the customer service teams in Round Rock? It’s a corporate owned property, probably worth a good chunk of change- What about sears.com and home... — read more
Severance pay
I’m a former Sears associate currently on severance pay will I still receive my severance pay if they file for bankruptcy ?
A@E appliance tech
How will bankruptcy effect appliance tech?
Boils down to....
Chapter 11..... close 150 store immediately, keep 400 open til Xmas then close them, leave 300 for small footprint in market. Chapter 7 ... Lock all doors Monday morning and then liquidate.
Ace
Do other readers have ACe hardware popups on this page. Is Eddie Lampert a big invester in ACE.
Points offer
Here is a kmart.com offer valid through this Saturday, 10/6/18: Points paid in three $25 installments: 24 hours after transaction, 10/30/18, and 12/2/18 Get $75 CASHBACK in points when you spend $75+ at Kmart.com. See details. Members get $75... — read more
Some useful info on all possible BK scenarios
I have no dog in this fight and have never posted here, but the lack of totally off-base information and wishful thinking that is posted here is just short of dangerous in it's potential if people take it as truth. First, there is a lot of gray area... — read more
Something to break the tension for a few minutes
post links to clothes that Sears sells that could be Halloween costumes that are not supposed to be I call this one "Bad Wallpaper" https://www.sears.com/tiana-b-women-s-shift-dress-floral/p-A015020139?sellerId=SEARS&prdNo=19&blockNo=19&blockType=G19 — read more
outlet stores
Are Outlet stores affected? Haven't really noticed outlets on previous closing list or are they already detached from Sears Holdings?
Wondering how much the minimum wage in each state will influence each state loosing sears/Kmart all together
Just wondering how much this is factored in to which stores are closing
So if your pension is worth $5k or less you can’t cash out any longer?
Know a person who had sent paperwork in and it was received before this latest news broke about bankruptcy. When calling about it, it was hinted to her that it’s too late.. My question is, if they received info before the talk of bankruptcy, wouldn’t... — read more