Sycko buys another rusty ship

Sycamore Partners Announces Plans to Add Fourth Ship to Azamara® Fleet

Prior to launch, the fourth ship will undergo an extensive refurbishment to match its sister ships All of these ships are aged, small, and inefficient.

In a world of Covid and everything that tragically occurred and has happened on board ships, why oh why would Sycko be purchasing these boats and incurring the expenses of existing company personnel and major costs to get these ships sea worthy?

So to those of you who have lost jobs at Belk or will be in the near future. As one ship sinks and the other maybe sets sail. Maybe you can get employement on one of these ships?

Yes it is all disgusting given Sycko draining $2 billion out of Belk's coffers helping to hasten its death.

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"Why are they buying cruise ships? During a time when taking a cruise is not at its most popular?"

Let us suppose:

Would you store dirty money in a local bank where anyone could trace it? Or liquidate it temporarily, send it halfway 'round the globe, let it change hands and get "clean" and park it in an anonymous, easily accessible and far less tax burdened offshore account?

Cruise ships may be acquired short-term as a fairly unstable but easy-in, easy-out mobile 'tax shelter, and can be the most convenient method of money laundering when there is a c-sino involved. Open water and lax regulation of trade, multiple points-of-call, cash transactions and money changing form (varying exchange rates, cash to chips to check, etc) all make for convenient avenues for covering the green paper trail.

Smuggling, questionable cargo, open-water trade/offloading of contraband/d–gs and even human trafficking are not unheard of.

Gambling is the easiest cover, though.

All speculation, no doubt much to the chagrin of the stalwart Belk Brigade that patrols this board hoping to drop a positive spin on even the most dire of news.

Why are they buying cruise ships? During a time when taking a cruise is not at its most popular?
They ‘invested’ in updates in Belk too. Remember all the little redos two years back when Don came on board? Could it have been a build up of assets to acquire a larger loan?🤔 And then not be able to pay it back because they spent it on buying another company? 😒.
I give that cruiseline 5 years then we will see them in a headline filing bankruptcy. What I don’t get but I’m not a finance major... with their track record who are the dummies that keep lending them the money?🤷‍♀️

Arrrrr! To port, me hearties! Weigh the anchor, unfurl the mains'l, and a-p–p-oop-e-doop the p–p-deck!

I bet a week's grog that ship has never sailed a more troubled water than the boiling Sea of Retail Accountability, And, it likely be less barnacled, bow-to-stern, than she, the oft' unseen, what be called "Lisa Harper".

'Tis like the old shanty:

The darkened eyes
Upon me flag, "The Jolly Roger", called
'Ave seen ne'er a sadder port

Than that what befalls
The dreaded halls
What house the looted, tear-stained coffers
Of the scurvy
Sycamore!

Arrrrrrr!!

Hopefully the judge will stear our future in the right direction. Same firm Belk hired to negotiate original deal did same for JC Penney. Maybe they just couldn’t find a way to work with 1st and 2nd lien holders while Sycamore continues its spending spree.

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Sycko buys another rusty ship

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