How worried or concerned should we be if you are on of the 140 ring fence stores ?? For example are they obligated to sell the properties to Finance the pension! Is it all smoke and mirrors?
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@1cry - So naiveté is just that, naiveté. With all the upcoming layoffs there will be a flood of former associates on this site riling people up!
I think a lot of people who were laid off still come on here to keep people riled up. No one knows what is going to happen but the owner. So speculation is just that, speculation.
Who owns the building has little to do with who will be occupying it near term.
The 140 stores are scheduled to be sold to satisfy the PBGC obligations - does NOT mean they cannot be leased back from the buyer but it would mean Sears / Kmart would most likely end up paying much higher rental rates which is not a good thing for an entity that can barely pay its bills now -- SHLD has to get an average of 2.9 million per store and sell them in a very short time frame ----- Can you say Adios'
The problem is some of those stores on the list are owned(and still open) but in b/c markets. What that means is anyone’s guess.
Empty buildings lose value, and there is a glut of already-vacant retail space in most markets that is already in better condition than old Sears buildings (and thus more likely to appeal to anyone that is looking for space there). So they should want to keep leasing these buildings to the Sears stores currently occupying them (except for the buildings on that list that were already vacant, there are several), for as long as Sears can justify paying rent for those stores.
Anyone learned by now that management lies or fakes ignorance?
Work for Sears?
Matter of time before you're unemployed, and not a long time either. When a retailer has to resort to stiffing its existing suppliers and buying from whoever will give it credit, the time is nigh.
Oh, you thought there was no reason why stores were suddenly full of weird stuff like Exercise equipment or lawn mowers? All about filling the store, with whatever they can.
Eddie just wanted to make it to Christmas, after that you'll see the REAL bloodbath. Even during Christmas, sales s---. You think all will be well during the 2 month lull in January and February?
@dft what rumors have you heard?
I am an ASM , our store is also on this list. We have been told nothing , just rumors of things to come
My store is one of the 140 stores
I read the deal should close in 90 days between sears and pbgc
When I ask management about this they act like they know nothing
So I guess we just have to wait and see 😩