Thread regarding Sears layoffs

JCP can avoid Chapter 11 by wooing Sears customers to their stores.

The only thing that seems fishy is the Lands End piece. Aren't they all closed or are closing very soon? Lands End has said many times they are leaving Sears and Kmart completely.

I don’t see a JCP bankruptcy until summer they don’t have to do a big hardlines buildup in January like Sears. I don’t see the island Kmarts closing without being sold first.

JCP is negotiating their huge debt payments coming due, and it all really hinges on this holiday seaon's sales. If they have a good one, they can stave off Chapter 11, but if they repeat as last year, or do worse, it's setting them up for Chapter 11. They've already got the people in place now for a worst case scenario. This isn't a for sure thing, because again it depends on how well they do this holiday season, so expect them to go all out to try to court lost shoppers.

@uor, what a windbag!

If Eddie can't handle Kmart or full-line Sears stores successfully, I highly, HIGHLY doubt the smaller format stores will be profitable. Remember that smaller format store that was remodeled a year ago? That's the one where Jaclyn Smith made a special appearance for their grand reopening? It shuttered seven months later.

Thanks for the insight. It's about what many have been thinking, but with more specifics. It all sounds very logical. I am wondering what compensation the PBGC will get from sales of the Kenmore and Diehard brands as I thought they were supposed to be ring fenced for the pension. Does anyone know what they will do with Home Services? It seems that even without stores Sears or AE Home Service is still running service calls.

@1ozj Exactly buddy! Look, we all Know it will close eventually. But to write something so oddly specific and unequivocal, they darn well better be correct to the letter, because if they don't , I will call them out. This person claims all Kmarts to be announced by "on or around" 10/21. So I'll give them to 10/25, since their "around" comment wasn't specific. If I don't see EVERY SINGLE KMART with zero exceptions announced, then Oct. 26, Morning, I will be on here asking what happened. Such is the danger of making such specific, particular predictions. It's like claiming to predict Powerball #'s. Predict all u want, but be sure to wipe the egg off your face if you're wrong (since you're claiming that this WILL, not "probably WILL" happen).

@isnj I'm not for censorship. People can post whatever they want. However, when I see fake or unverifiable news, people shouldn't get their feelings hurt when I call them out on it. It's one thing to write that someone THINKS something will happen, or that they HEARD something may happen. But when someone claims something 100% definitely WILL happen, then it ends up NOT happening as they predicted, I will provide the napkins to wipe that egg off their face.
Again, people can write anything they want. But if they can't back it up, I'm going to call them out on it. That's step 1. Then if their prophecy turns put not to happen I will point out that they ended up being wrong also. That's step 2.

@11fQFMJl-1ozj Please go away Kmart Cheerleader.

Here we go again. Another "Here's what I know". I'll believe when I see it. Until then it's just predictions and fake news.

@11fQFMJl-1snj I misunderstood what you said, sorry about that.

@1btw - Not quite sure why you are directing your comments towards me; I fully appreciate the OP for sharing with us what they overheard around the HE campus. My response was directed @cvy, who believes that the OP, or any person posting on this site, should only post statements that can be confirmed as 100% certain. To me, that stance is just an attempt at censorship, which I vehemently oppose.

This MAY be true, but it seems like something like this comes up Every Year. 2 Years ago it was mentioned stores would close after Dec. 2017. There is a thread on here mentioning every Kmart would close in Feb. 2018. Obviously that thread didnt age very well.
Same was mentioned Last Year as well. Eventually the boy who cried wolf scenario begins to set in. I take a cautiously optimistic approach, as in, I'll believe it when I see it. When it happens, then great. Until then, I am skeptical.

@11fQFMJl-mtk No but it seems in line to what many of the rumblings that have said this for months. Looks at how grim things are/have been for awhile, it seems like that is the end game. Pump Kmarts for one last (albeit VERY PATHETIC) Black Friday/Holiday sales boost to try and get rid of as much product while also doing a total liquidation before and after the holidays. Trust me, still working at one of the "top" Kmarts and we are struggling as bad as everyone else, the feeling of dread is in the air. The sense that it is going to be a peverbule coup d'é·tat at any moment. Yet sadly we still are going through the whole "hiring days" joke....good lord, just let it end already.

@mtk If that's the case, he shouldn't act like he's so certain about it. He wrote "Here's what I KNOW", not "Here's what I think", or "Here's what I heard". I'll gave him 4 Days of leeway, but if every single store is not announced by Oct 25 Or so, I'll give him a napkin to wipe the egg off his face. Because if even 1 is not closing as of then, then the prohecy is not completely accurate.
Many often use hyperbole. The President of the US does this a lot. Case in point, your friends are going to a college football game and it's a top team against a bad team. Someone Says "Team A is so good that they're going to Win by 100 points!!!" Final score is 98-0. Most of what he Said is true. Team "A" Won the game. It was a blowout. But it was NOT 100-0. So technically his statement was not true. I just don't go around making predictions that might come back to bite me unless I am 100% certain about it. If I was to play Roger Federer in tennis, every indication would be that I would lose 6-0, 6-0, but I would never act like it's a 100% certainty until it happened. What if he hits a few double faults in a row (that's the only way he would ever lose a game to me LOL), and the final score ends up being 6-0, 6-1? Then my prediction would have been a lie. Getting back to the OP, it's fine if this is what he "THINKS". But he is acting like his word is Gospel. We'll see in A Few Week. If he was wrong, I'll be the first to come back here and point that out! Night! :)

@cvy - OP is an ex HE associate, not a company spokesperson. They are just reporting on what they overheard around the corporate campus. Any reasonable person would understand that they are in no position to confirm, let alone be 100% certain, that what they overheard is completely factual.

Yes, profitable Kmarts will be closed in this next round. The distribution system for them is disappearing.

Transformco is out of the retail apparel industry.

A sale is pending for the Guam. NYC leases have been sold.

This is VERY similar to what I heard (was laid off in August round of 250 corporate folks).

Only thing that was not addressed in this posting is Hometown sale/merger. Those locations are apparently going to be the new small format stores.

what about apparel?

Sounds about right to me.

So just to confirm, ALL KMARTS are going to be announced within October? Every single one including Guam, all Puerto Rico/USVI locations, and all 4 NYC locations? And this is 100% certain?

Sounds legit.