I put in for lump sum from pension a few days before bankruptcy. Today I got notice my request was cancelled because of Sears bankruptcy. I have to resubmit request and can only get monthly payment. This is not what I want. I want the lump sum so I... — read more
really
I keep seeing post about how associates think thier stores are profitable. Doubt it. Unless your store Manager has took you through EIS and broke down your numbers to prove you are profitable. ..then I doubt it. There are very few stores in the... — read more
Safe list and not safe list51
Can someone post the safe list again and the maybe safe list. Thanks
Your thoughts ?
No mattress orders coming in , no appliances coming in ! If customers go elsewhere to purchase item , when or how long does it take to regain lost sales ?
Bankruptcy Fears
Had a few local vendors come in today to try to get their merchandise and were told they could not. One was an older gentleman who was in tears because the check SHC sent him the week before BK was recalled (whatever that is) and he was told they... — read more
November 3rd
https://twitter.com/ElizaHannon/status/1055133061308915712 Sears lawyer announces he’s asking for a DELAY to the hearing for the new loan Sears/ESL has been trying to secure. From nov. 1 to around nov. 8. Precociously said Sears needed the money by... — read more
Margins don’t matter if the merchandise is slow to sell
ounds good until you realize that most of that stuff is slow to sell. Margins don't matter if that stuff isn't selling. We still have over 90 unopened boxes of soap from two years ago sitting in one of the stockrooms. We've got etageres of soap at... — read more
Prime Clerk is a great website to read all the bankruptcy documents
A lot of claims filed in the millions of dollars against Sears holdings
Home Services
Who all falls under Home Services? Is Inovel Solutions being sold off? Are the Call Centers being shut down overseas?
Severance
My severance was cut off early due to the bankruptcy. Anyone else? Don't have any dreams that you'll get any severance if you're laid off from here on out.
This is a strange lawsuit to deal with right now
Couldn't have this been agreed on outside of involving the court? Seriously? A group of Sears' landlords laid out in a court filing a set of requests for the retailer's upcoming store closures, asking the bankruptcy court to limit the size, wording... — read more
Sears stock symbol changed to SHLDQ
Looks like the inevitable has occurred. Now, are they off NASDAQ and onto pink sheets? Not sure how that works.
When will layoffs begin?
"Will there be any layoffs sooner cause with so much going on and sears claiming its business as usual, people are going bit crazy. " This is exactly what I've been wondering. We know layoffs are coming, nobody is stupid enough to doubt that. So just... — read more
The competitors have their sights set on customers that used to shop at Sears
No surprise here. Sears’s bankruptcy is going to leave a lot of customers who shopped at Sears open for grabs to the peers. A lot of potential revenue is in play and everybody wants their peace of the pie, so the race begins. What I found interesting... — read more
Retail Crash, and Now the Housing Market
Everyone has blinders on and rages when confronted with the facts, but the facts are the facts. All the denial in the world won't change them. https://finance.yahoo.com/news/troubling-signs-coming-u-s-housing-market-164654871.html
Silent Sears Store Closures
Some malls want to keep Sears' closing sales almost a secret. Among the rules they want: No outdoor signs No window signs within 12 inches of glass Only 5 other signs inside the store Only white signs, no neon No "going out of business," no... — read more
Will They save the best Kmarts?
Do you think they'll save the best Kmarts? They do seem to be trying harder with Kmart and that seems to be where the effort is going.
Downsize them before they downsize you
With all of the seasonal hiring, now is the time to jump. Grab a seasonal position at Target or some other store and get through the holidays with guaranteed income while you can more leisurely seek a permanent position. It is actually better to... — read more
Health Insurance dilemma for all Sears current and former Sears associates
Some details to think about... (I am not telling anyone what to do) If Sears does file for Chapter 7, this will most likely end current COBRA benefits and health insurance for current employees. For most companies, right now is the annual enrollment... — read more
Store numbers
Are stores below a certain number always Sears, and above always Kmart? I'm trying to analyze a list of the hundreds of store numbers and I don't want to look up each one.
Some vendors said to be halting shipments
https://www.bloomberg.com/news/articles/2018-10-19/some-sears-suppliers-are-said-to-keep-distance-after-bankruptcy (Bloomberg) -- Shortly after filing for bankruptcy earlier this week, Sears Holdings Corp. sent a letter to suppliers asking for their... — read more
NO MONEY
No money left , went through almost 300 million in past several days just to paint picture for vendors and employees' all is business as usual . No inbound freight , outbound limited , vendors scared' what's next ! Last man out get the lights ! It is... — read more
Anybody else hoping for Chapter 7?
Just to finally have this whole circus done with. People will find new employment. Jobs like the ones at Sears are currently available aplenty. I'm just so tired of Eddie and his theatrics in hopes of milking this company for every single last cent... — read more
The restructuring plan will paint a more clear picture
When they filed, it was also requested to be allowed to sell portions of Sears Holdings. It was approved to allow them to review and decide on what they need to sell to do a restructuring plan, and then allow a certain amount of time to accept bids... — read more
The 21st Century Sears Didn't Go As Planned
A video from the halcyon days of Sears. They sing and pontificate about a Sears designed to serve the 21st century customer. Now that 21st century SHLD is in bankruptcy, watching this exuberantly optimistic video leaves you feeling bewildered... — read more
Objection to a Motion by US Trustee
In part: (Docket 225) The Motion seeks a waiver of compliance with various state and local “laws, rules, or regulations regarding licensing or other requirements governing the conduct of store closings, liquidations, or other inventory clearance... — read more
Wonder if Sears/Kmart smaller footprint will be mattresses and appliances
And if they will get out of clothing all together? Any thoughts
With the latest 142 store closings
Is liquidation now 45 days instead of 60? Do the liquidators assign new tasks or do you just keep doing what you did before? How do you keep from becoming sad seeing everything stripped down to the walls? What has been the hardest part of going... — read more
Vendors
They aren't coming back in swarms or will they? Coke, pepsi or any others?
The turnaround is definately underway
Just check out the customers (ahem, members) swarming this Sears store: https://www.youtube.com/watch?v=fDAVQmm8egI
Sears/Kmart has outstanding balance of $27.1 Million
For utilities Phone, Internet, trash, water sewer, gas and electric Sears Prime Check for all of sears dockets Really interesting reading
Everybody in closing stores should read this
Some of your regular customers will come in at the beginning, but they will often be too depressed by the sight of your store in liquidation to come back later. You will also get a number of people who have not stepped foot in the store in years, if... — read more
How many people?
How many people are being let go as part of the latest closing announcement? I've read number that go anywhere from 3,000 to as high as 10,000. Both of those seem wrong (too few and too many.) Anybody knows if there is an official number of how many... — read more
Eddie looking for a partner for bankruptcy financing
And our survival depends on whether he can find somebody gullible enough to buy what he's selling. Which means we are doomed... — read more
Hmmm... Auction in January 2019?
The sources cautioned that negotiations between Sears, Lampert and other potential sources of bankruptcy financing remained fluid and might not result in a deal. Sears filed for bankruptcy protection in White Plains, New York on Oct. 15 with a plan... — read more
Anyone know when the closing stores begin liquidating?
Anyone know when the closing stores are going to begin liquidating? On the website it doesn't say what's available in those stores anymore.
Halloween costumes 100% back in points
Kmart has several halloween outfits 100% back in points. How exactly does Sears expect to survive giving away stuff for free? Why do vendors do business with sears when they give their product away for free?
Madhouse
So far it's been crazy at the closing stores. Yet the asm are sitting on company computers browsing Facebook and thelayoff during company time all day. They have given up. Cant wait for the liquidators to arrive. Someone has to steer ship.
When will we come to know about next course of action
Does anybody what date can we expect the next course of action. I just hope they now lay it to rest finally.