Thread regarding Belk layoffs

"Belk’s first-lien debt recently traded around 39 cents on the dollar."

This may be called "debt" but in reality it is the soul of the company that Sycko s—ed out upon buying Belk...the same manner of looting a company's value as they did with Staples.

In case anyone is confused as to the valuation of the debt...it means that lenders who paid a dollar to buy the debt bonds are now getting back only .39c for each dollar they invested. In these days of massive stock market gains, experiencing losing 2/3 of your investment monies really hurts.

This house of cards might stand for a while longer, or very wel could come tumbling down in a hurry.

Belk has been around since 1888, and in less than 5 years Sycamore has destroyed this company. so so sad.

To @1oqs: You better believe it.

Would there be store closures as a result?

Basically own part of a sinking ship.
I’ll pass..

And now Godiva is closing all 125 of its North American stores.
Tears emoji!
Another product/retailer/concept of a better life disappearing.
Course you can buy Godiva at WallyWorld.
Isnt that special!

Delaying vendors is a bad bad sign. Vendors are very very gun-shy about providing product to bankrupt companies after the Toys R Us debacle screwed them over. Once vendors stop shipping product, it can go south and turn into total liquidation in a matter days. You don't have a retailer if you don't have product.