Don’t expect this to be relayed to store level workers or even store level managers, but the higher ups at Belk have admitted that the “one belk” strategy and uninspiring new design of stores has proven to be a major failure. However, Sycamore does not see a long term future with Belk, as most private equity firms purge an investment after seven years or so.
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Taco Bell is better than stupid d-mb bell I mean “One Belk”. Take this silly long time to know it does not work?
@zoj How many times greedy dirty investment hedge fund companies like Sycamore or other declared bankruptcies and leave companies in big debts and take profits? Why is this scam is still a legal business concept? Laws and regulations are written by crooked politicians to protect the wealthy CEOs and ignore the working poors. Donald Trump drove all his companies casinos. Trump airline. Trump Steaks and so on six times and proud of it! Greed for lack of better word is good like Gordon Gekko said in Wall Street movie!
And why are you “in the know”?
Troll much?
Does it mean that even if stores perform very well and have enough cash flow to keep business going or better yet growing it’s irrelevant for Sycamore because they want everything and now? Selling everything for a fracture of cost, including real estate, and be done with it? I still don’t understand why is it legal? If they make Belk responsible for debt, how they’re allowed to take the money? If parent sends a child to borrow money and then spends it leaving the child (who also gets ice cream to stay happy!) responsible but worries free, sure one time it will work for them, but why this scam is still legal business concept? Shouldn’t government question these practices since people will lineup for unemployment benefits?
I smell a mole