... begins January 2019. You saw it here first. This post will be proven correct. But go ahead and call it fake, etc., all you wish. He who laughs last, laughs best.
32 replies (most recent on top)
When did a store become who?
No raises, no holiday pay, and he still gets his money.
The man runs out of checks when the company runs out of assets to pledge. He will not lose.
@1tdu, well they kind of can. Eddie just writes another check for a loan they have no ability to ever pay back.
@1syx-- Get some financial education. Pushing the amount owed down the line does not make it go away. And there are fees that need to be payed when you push the debt down the road. Hundreds of millions of dollars plus intererst in this case.
The debt was pushed back because the creditors knew that if they pushed the issue they would get nothintg. By pushing the debt back they might recoup some of the debt. The bottom line is that SHC is BK and has no cash and creditors, other than Eddie, will take what they can get.
See Sears Canada as a case study.
And as far as a master lease goes, lets assume that a store who is owned by SHC has not paid rent in decades. Now they start paying rent at $12-13 a square foot. Or lets say that a store pays rent at the 99 year lease rate of $4.00 per square foot. Now, they must pay the going rate of $15.00 per square foot. whatever the rate Eddie make more money.
@1rns - Because SHLD can't print money, while the government can.
It works for the government, why not Sears?
Restructuring your debt does not eliminate debt...it just increases the loan administration fees which are paid up front and interest which is then extended a year or two. In the end you pay more than the original terms call for.
Yawn. He refinanced the debt to July 2020. You're wrong quiz kid.
LOL. new debt to help with old debt to run a business that is losing money and creating more debt? Keynesians everywhere SMH
Wow! Refinancing the debt will save us all! Halaluia! Praise the lord! We are safe!
Yawn. He refinanced the debt to July 2020. You're wrong quiz kid.
The Pa Kmarts are next and will be very soon. Within a month is the word and yes liquidation will soon follow. The top 50 stores of Sears and Kmart mean nothing if you think that will save you.
@vpm- That is the exact reason that the stores WILL close. Eddie buys the real estate and redevelops it or rents to another retailer or company at three times the rent.
I am not talking about the Seritage master lease.
ESL is currently in negociation with SHLD to buy the remaining real estate and make a master lease.
This means the stores won't be closed.
LOL yeah, ok . Why exactly would they keep something open that's burning over a billion dollars a year that's not profitable and is over 2 billion dollars in debt, not being negative this is just a realistic question
I am not talking about the Seritage master lease.
ESL is currently in negociation with SHLD to buy the remaining real estate and make a master lease.
This means the stores won't be closed.
The OP is a TROLL for layoffs. Haunts MANY company sites here. Ignore!
The end is definitely coming!
Eddie could give 2 sh--s about you, the only thing he is doing is inflating his bank account. He will walk away smelling like a rose. If you’re waiting for that severance check, forget about it! If you are let go due to bankruptcy there will be no severance! And you will be searching for a job along with 80,000 others from the company! The job market doing great. At Sears you’re just a other number.
2019 seems plausible, but wouldn't count on it. My take is, when the northeast states, in particular, PA, NJ, and NY, lose most all of their Sears and K-Mart stores, that's the sign of impending liquidation.
On a related note, If the Sears store (Wyomissing, PA; Sears Berkshire Mall #1484) near me is any indication (most registers gone, 2nd level closed off), the end is very near. Whether that's 2019 or 2022, don't know, but can't see the chain hanging on much longer.
Sears and Kmart are definitely gong Bankrupt the big question is what date? OP do you have a legit source or just assume its going bankrupt since this will be their last milking they can do?
I don't even see why he needs approval because he's the majority stockholder who the hell does he need to get approval from at this point?
Once Eddie L is approved to purchase the remaining assets of sears I say the whole thing will implode and Eddie L will be the only one rising from the ashes of the once great retailer
I am assuming this is both Kmart and Sears correct?
It is unbelievable to me that there are still people on here who can't admit Sears and Kmart are gone and not coming back. You probably believe the earth is flat and the moon landing was faked....
Sounds about right or by end of 4th quarter announced in 1/2019
There is crushing debt of over
$2.4 BILLION
Sorry to say, Sears/Kmart demise will mirror Toys R Us outcome
That master lease stuff was back in April , and most of those properties have been closed or ae closing. ESL may be "buying property" however it is only for seritage to re purpose. as upscale shopping / and redevelopment.
False rumor.It doesn't make sense when Sears is still trying to make new concept stores.Moreover there is a deal where ESL is buying the real estate and doing a master lease.
You heard it here first, OP is FOS. Ha ha ha.
Not rumors. Truth.
look at these rumors surrounding me everyday
January 1, 2019.
I hope you are correct.
God Bless you