Wow I just looked up states unemployment benefits. Flordia s---s -12 weeks, and u only get up to 275 a week. I was just out of work in ohio. Pay up to 26 weeks. I made 580 a week. I had nice time off, still had five weeks left when I started working... — read more
The end.
Looks like all stores will be done by next week. Liquidation company will take over and almost all staff will be let go immediately.
New Years
Nobody can tell me if New Years is a paid holiday or not. I'm only asking so I know which day to quit ;)
Finally chapter 7 .... Maybe
This is exciting because I don't want to come off vacation. Unfortunately it won't all happen at once. Popcorn out its getting to be like a great out of your seat chilling thriller... LoL I will be requesting a raise, if or most like... when I return... — read more
Emergency Confrence Call Today
There was an emergency conference call today. I have no idea how many store managers were on the call but our store was told we are going to be closed. The store manager had an assistant go around and tell everyone. There will be an early morning... — read more
LAST 24 HOURS FOR SEARS
No stalking horse , no one to purchase losing opportunity in whole , Eddie does not have friends to spend on dead horse and he refuses to open wallet , Sears will be sold in very small pieces and the rest is retail history !
CNBC BREAKING NEWS: 24 HOURS LEFT BEFORE LIQUIDATION LIKELY
Wow .. the end really seems here. https://www.cnbc.com/amp/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html?__twitter_impression=true
Chapter 7
ALL stores will close "immediately" and re-open under the management of the liquidation company. Yes, it will take 2-3 months to close a store (some will close quicker and consolidate merch to other stores) but the moment liquidation starts (on a... — read more
More cutbacks to start the new years
So no more runs to Sam's to keep the bathrooms stocked with toilet paper I guess. BYOTP and members can be wow'd and delighted by grabbing whatever's available from men's underwear I guess.
Retail 101 - Store Concentration and Advertising
The more I watch Sears fall apart, the more it is becoming obvious that either senior leadership doesn't know how to run a retail giant, or senior leadership is running a real estate company rather than a retail company. Here's just one example that... — read more
Creditors meeting notice went out on 20th
Subject: Basically just a mailing list to the creditors committee and referencing the previous docket filings expected to be discussed The oft delayed Ch 7 motion Store closing list Liquidation procedures The Ch 11 filing itself Sounds like fun
Louder for the people in the back
TRU declared Chapter 7 in early March 2018. The stores remaining at that time didn't finally shut down until late June 2018. Liquidation takes months. Everybody needs to read this. Yes, some stores will close immediately. Those closings have been in... — read more
Who else is surprised Sears is still standing?
I was certain we'll be closed before this week started, and now it looks we'll make it into the new year. Is it stupid to be optimistic over this?
Okay. The court bankruptcy court was handling claim #1421 today
Guess who is getting paid now? Attorney fees billed in advance, all utility companies, and multitudes of other claimants. Doubt that there will be any help from the court regarding our back wages due before bankruptcy. I hear 20/20 is interested.
Sears to incur charges in the amount of $443 million
Sears stated that by its internal estimates the company will incur charges in the amount of approximately $443 million as a result of earlier announced store closures. I believe that this is a mild estimation and that the value of charges, in... — read more
Happy No New Year. It's Time to Shut The Doors.
Forget about the severance or a thanks for staying around. Just like in Monopoly the good properties are gone and the bank is empty ... so you loose. P.S. could you please get the lights ?
Everyone still employed by SHC should be prepared for layoffs without severance
If creditors opt to move for Chapter 7, things could move very quickly in completely uncontrolled fashion. Look at the Toys R Us page for how suddenly things wound down. You could be out on the streets in a matter of days.
Why can’t we order appliances in southern Cali!!!
I hate how we cannot order appliances in Southern California!!!! I can’t make a living on selling mini fridges all week long!!! Haven’t made a bonus in 2 months either!!! I’m so fed up! Something has to be illegal about this!!
Severance Question
Is SHC still offering severance to the salaried workers being let go? My coworker says severance is capped at 12 weeks. Is that still true?
The destruction of the goose that layed the golden eggs
I think I read most of the analysis of the downfall of Sears in the media and they pretty much came to the same conclusions, but I found this article to be a sincere portrait of Sears’s demise not from a perspective of someone who is an expert on the... — read more
Is this really what happened at some stores?
Our store closed at 6pm. TARGET AND WALMART nearby are open until midnight. Corporate even shut our lights off at 5:45 pm. Customers were shocked at the lights being shut off. On my way out of the building, the parking lot lights shut off while... — read more
When does the holiday numbers come out? It's gonna be a disaster
Will show judge drain just how bad Sears is The best hold day sales for all other retailers except Sears/Kmart and this should prove to judge drain to push for liquidation It's sad that there was no tv commercials to remind everyone that were still... — read more
U.S. Holiday Retail Sales Are Strongest in Years, Early Data Show
https://www.wsj.com/articles/u-s-holiday-retail-sales-are-strongest-in-years-early-data-show-11545777668 Sales excluding autos rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard Shoppers delivered the strongest holiday... — read more
Lampert's Bid For Sears Seems To Be In Trouble
Lampert's/ESL bid was not designated stalking horse status. Bids are due on December 28. There were 2 hearings last week, and many more are set over the next 3 weeks. Much-needed cash could come in from additional sale of intercompany held notes. The... — read more
Breaking News!!!!! 100% Increase in sales yesterday!!!!
The company was up 100% in sales yesterday. We aren't dead yet people!!!!!
Sales flash shenanigans
How can a region with only a couple of stores even near 100% to goal be trending at 400+% an hour before closing? Looks like someone is up to something.
Beating a Dead Horse
Under Armour Has Opened The Most Mall Stores Since 2011, Sears Closed The Most While they do not necessarily spell the downfall of retail, struggling department stores have led mall closures since the turn of the decade. From 2011 through 2016, Sears... — read more
This Video sums it up -- Last Christmas for Sears
https://www.youtube.com/watch?v=onKj-wEdYyg Seriously, if this is how busy you are on Christmas Eve, not a good sign for "go forward".
Let's Look on the Bright Side, This Holiday Season
The one thing all remaining Sears stores are ranked #1 in is parking. No problem at all finding a parking spot, close to the building. Give Eddie credit, his "FREE PARKING" idea is brilliant.
SHLD Stock Update
The SHLD stock is now trading around $0.18 (with a low of $0.12-$0.15) with a market cap of 19.12M. About a month ago, it was trading at $0.40. I would definitely say that based on the stock price (and lots of other factors) that the end is near!!
Public pressure
I found interesting how this article covers the influence of public pressure and the political climate on the decision of the banks to provide Sears with loans. They are obviously not blind and see that Sears is hanging from the edge of a cliff with... — read more
Marry Christmas, everybody
I know there is so much negativity here lately - and with very good reason, I'm not saying there shouldn't be - but at least for today and tomorrow, try to focus on good things in your life. We have plenty of time ahead of us to worry. Don't let... — read more
Merry Christmas
https://www.youtube.com/watch?v=j9hR4Gg6b9w
-25.4%
Day 3 Blowout sale, smartest minds in retail
Listen up !!
I used to be one of you , And to be perfectly honest I still would be if my store didn’t close . I used to always come here whenever there was rumblings of store closures or staff cuts . I had been with the company for 10 years and I know that’s... — read more
Sears is in even *worse* shape than it has let on so far
And that's saying a lot. At this point, holiday sales have been so bad that vendors are worried that Sears is administratively insolvent, and even their their Chinese suppliers are worried that they'll get nothing in recovery unless Sears gets... — read more
-23%
Day 2 of the blow out sale