This is just prolonging the inevitable. This will only make things worse for the employees. They'll use the bankruptcy to cut our pay, deny any merit increases, and remove or scale down the few benefits we have left. I don't even want to think about how bad it'll be for hourly employees. This company simply needs to be put out of its misery.
3 replies (most recent on top)
Been saying this for months on this site. You’ve been warned over and over. If you don’t see the sign now, you’re plain stupid.
What I found alarming was that at time of declaring bankruptcy, Belk had only $7 mil of cash on hand. Barely enough for payroll, never mind all the other hundreds of expense centers.
Make your own judgements on the future of Belk. Seeing that Belk has no identity as a retailer; is unable to source any new merchandise lines; continues to have some of the most obsolete technology, store & corp., anywhere in retail; has a problematic, much derided and disliked on-line order system; and no vision/business plan for the future cept survival; my take is the handwriting is already on the wall. Big red letters, RIP.
That's exactly what they did at Sears.