The FTX Crypto company was filing Chapter 11 bankcruptcy proceedings last Friday and its CEO has resigned. About $1 billion dollars of FTX clients money has disappeared! The rise and fall of FTX Crypto Exchange is about similar of Belk company don’t you think! Sycamore Partners and Belk are doing a lot of shady or unethical business since Belk was sold in 2015 and now Belk is in $2 billion in debts and executive leaders at Belk or Sycamore acts like nothing to be nervous or worry about Belk future and financial troubles! Remember Enron, remember Toys R Us, remember Sears, remember Circuit City? Watch out if Belk filed for Chapter 11 once in 2021. Belk continues to change and replace its CEOs all the time in these past few years. It could happen again like FTX Crypto!
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I have a bad feeling about this Belk company and its risky top management! Everything Belk is doing is questionable and not profitable or logical at all.
Watch your 401K at Belk like your life depend on it from now on! Do you trust them taking care of your invested hard earned money after they have done to Belk retail stores since Sycamore Partners bought Belk? One failure after another!