It's over, sycamore ran it into the ground. Sad day for past and present employees.
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Some of us called this last year when we got let go, this is not surprising news. They deserve their lawsuits. Sycamore now has Walgreens and their sub reddit shows just how bad Sycamore runs things.
@a4 anticipated close date per WARN notices is on or around 10/06. I hope Sycamore and Staples have lost millions. No one wanted to provide capital and Sycamore wouldn’t fund further run way.
I am dancing on their grave. Staples is next. It all ends soon. Steal from Peter to pay Paul and this house will crumble.
Tick tock…. Just ask me..
Sycamore sold off all the assets including profitable business units and half a century of real estate investments. Pocketed all the proceeds, lost all leverage with vendors, and added debt then blamed everyone else for the company failing. This was in their playbook from the beginning and the deal should have never been approved by the FTC with a handshake agreement they wouldn't do this.