Anyone that worked for Belk before Sycamore knows something is terribly wrong. The only thing that has not changed is the name, I’m sure that will happen eventually if the company doesn’t fold first.
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Private equity drains all the money out of businesses then moves on to the next, that’s exactly what they are doing with Belk.
I read today that Sycamore group is trying to purchase JCPENNEY. If you have billions to purchase a new business things can't be that bad. Giving extended hours to customers, but not employees as a means to cutting cost is ridiculous. We'll see how this plays out though.
when customers tell you the store is closing or going bankrupt you should listen.
I’m going to whisper this, but our RVP said he/she couldn’t confirm or deny belk was going under.