Everyday you wake hoping that they don't tell you that your store is closing. You read the news and all Sears does is try to spend some negative into a positive. When you call them out on their BS you're bad mouthing the company,when you're just stating public information. They want you to be a team player and work your @$$ off for pennies. If they decide they don't need you anymore they either just fire you or come up with some bogus policy to terminate you so you can't collect unemployment. At the same time they're quietly debating if your store is going to be open or close. Anyway they can cut a corner believe they are looking for it. Eddie's bottom line is more important than any of us. The less he has to dish out for anything is a good thing for him. You know why he can't stop the bleeding because he still paying people that he let go instead of finding a reason to fire them and save a few dollars that way. Closing stores won't help cut losses, cash and assets are less than the total debt owed. Cash on hand is $264 million. $108 million due in July. That is enough money to make it through June and call it quits in July. When less than expected bad news is a good thing this company is done. No I'm not being negative. Let's get that straight. I started off part time and worked my way up in a few years,so I'm grateful for that opportunity. I'm also just looking at the facts and understand that at the end of the day this is a company. A company is about making money and when that fails your business cease to exist. It's not the first and it's not the last,but the way things have been ran has been disrespectful to me as a person and an employee. Once again grateful for the opportunity and learning experience I received while working here at Sears, but I'm not delusional or naive to the situation at hand.
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They are out of cash. No vendor will ship unless they have cash up front and now is when they order for the Christmas season. So unless some miracle comes along they cannot afford to buy Christmas merchandise. Many of the back to school orders have already been cancelled.
@jvk I doubt July we will close especially now that if you havent heard that Sears just needs to pay $100 million dollars of the loan. At this point though maybe they want to drag until December since I believe the rest of the loan needs to be paid by January.
Great post btw!
No one has any idea other than Eddie I dont think. We continue planning business for the future in corporate....planning ads etc.
So is July pretty certain that we will close?
Nice. Sums it up well.
Good post thank you