Kmart and Sears have closing stores for years and when Eddie Lampert became CEO of Sears in 2013, which was the beginning of the end for the company, and the worst was when he merged both brands in 2005 to form a struggling brand clearly as we can see. TransformCo is picking off store closings just like how a family might play a game of Jenga, and ultimately, the blocks fall the same thing will happen to Sears & Kmart store before the end of this year mark my words. Eddie Lampert was never interested in caring about the employees. He only cared about the profit, sat on for years, and took bonuses and the other Sears Executives. Eddie believes in the philosophy of the rich get richer, and the poor get poorer. I wish all current employees the best of luck of eventually transferring out and finding a new company. PLEASE GET OUT WHILE YOU CAN DO NOT STAY WITH SEARS OR KMART. You will regret not leaving when you become the next victim of a store closing liquidation sale.
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People have said the stores will not make it to see the new year for the last decade. Every January that rolls around another year of guesses is proven wrong. No one will know until it happens. Period.
@1kkl+15SJYOzC Yeah right...
His mom loved sears as he grew up and wanted to buy it for her. So he became big and rich and did buy it for her. End of story..
@yaz+15SJYOzC So why did he even bother then?
People here are very uninformed. Use Google, people. Google Eddie's net worth before the purchase of kmart an his net worth now. He hasn't made a profit. Yes, he destroyed the company. I get it. He didn't destroy it to make a profit. He lost money in this mess.
Wait a second. I thought you said we need to treat this site like CNBC by reporting news and facts, upholding journalistic standards. Now you say this isn't CNBC.
Which way do you want now?
Can anyone offer insight into what exactly Larry does for the company? All I ever see him do is issue 'no comments' to reporters' questions on store closings.
It's been clear that CNBC and others have been using thelayoff.com as as their goto source for years.
Blah blah.....at this point no employees thinks Sears/Kmart is a going concern. Many of us have worked for these companies and survived liquidation, it ain’t that darn bad. Actually It’s a relief.
Another nothing post, people here think they are business commentators.
Post news and facts this isn't CNBC we do t need a commentary on a company everyone knows is dead.