Looks like Fast Eddie is still going to have to pay the PBGC the $1.7B he owes them per the licensing agreements with KCD! Lol

Can I still pay my sears and discover card bills in the store? Can the associate still call the card company to post an immediate credit? Can I make payments in any department or is it still just in the appliance section?

So is service shutting down after his bid is approved by the judge and he gives the all clear to screw all the creditors over? Or will he continue to fund the repair business so that he can enrich himself with interest back on top of the loans?... — read more 

This is a repost. PostID: @XkfeR41-jun . The judge has not rules one way or another on that matter. There are formal procedures for a bankruptcy. It completes over multiple stages. Winner of the auction is selected solely by the debtor: the Board of... — read more 

What Eddie’s goal is or isn’t is irrelevant. The fact remains that if the creditors are correct in their allegations, they are guilty of malfeasance for continuing to loan him money. They are unsecured and knew or reasonably should have known the... — read more 

The judge is bought and payed for just like the rest of them. Fast Eddie owns us period. Get ready to bend over some more.

GLOBAL NOTES AND STATEMENTS OF LIMITATIONS AND DISCLAIMERS REGARDING THE DEBTORS' MONTHLY OPERATING REPORTS Docket 1989 Show operating loss of $193 million month ending Jan 5 2019

PRELIMINARY OMNIBUS OBJECTION OF THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF SEARS HOLDINGS CORPORATION, ET AL., TO THE ESL PROOFS OF CLAIM 1 Docket 2025 Seeks to have ESL credit bid disallowed. Claims debt should be considered equity investment

LIMITED OBJECTION OF SERVICE.COM TO GLOBAL ASSET SALE TRANSACTION AND STATEMENT OF CONTINUED INTEREST IN PURCHASE OF SEARS HOME IMPROVEMENT BUSINESS Docket 2029 Debtors won't return $6 million security deposit

... a "bad actor". If they can convince the court to recognize Lampert (and Kamlani: President of ESL) as a bad actor they might be able to have the court "Re-characterize Lampert's Debt as Equity". (Docket 1765). I have not heard this term before... — read more 

.....anything concrete about store level layoffs? I suspect the remaining FT associates regardless of job title will be on the block, but what about the rest? I am aware of the RRC layoffs, but haven’t heard zilch about store level stuff.

Since Eddie owns Home Services and SHIP what happens next? Still bloody cash problems and not much more to cut than few over paid directors and VPs left Per SHIPs last financial release they can’t even sell more than 300 million in a year and... — read more 

Would they be liquidating any faster than this "transformation" ? It's hard to imagine how.

wondering if this will change with the bk and the new order. january is coming to an end and the cubs will start up soon.......think warm in this frigid tundra !

Keep in mind Eddie is on every side of this deal, debtor, creditor, owner, buyer, seller, potential defendant and potential plaintiff. It's nuts and I won't say I understand it. But I do think the legal complications are part of the plan, a confusing... — read more 

I get the position of the creditors in the whole story. It's logical that it’s in their best interest to liquidate Sears and to get what they can of their money. I don’t blame them for that, but go that far and talk about how Eddie Lampert profited... — read more 

Was going through an aisle and literally 95% of it came up as discontinued. The Go Forward Plan is Go Extinct?

Zone Managers gone

The guy has nothing but a record of complete failure. $12B lost. No cost control. Crashing revenues. Failed turnarounds and transformations. Terribly run supply chain. Toxic employee morale. Bad real estate investments. Spinoffs that are also running... — read more 

He set up Seritage before, to reap the benefits of the real estate transactions. He should have set up a law firm too, to get the benefits of the legal costs. An article states that they will run into the hundreds of millions of dollars.

So with all the cuts coming I hear security is being cut. Anyone know if assistants will be cut?

Based on our evaluations of the changing retail environment and our current store count, we have restructured our Retail Services field leadership team this week. Kmart and Sears stores will now operate as two cross-format divisions, each led by a... — read more 

What kind of coward CEO/Chairman hides out on his yacht/Florida estate for all the hard stuff while bankruptcy is going on, and towards the end says, okay, done with vacation, ready to be CEO again! No wonder the Autozone kidnapping thing went down... — read more 

I’m wondering how many SHO employees are left. I know some people have already jumped ship. It seems more and more Sears Hometown owners are not renewing their contracts or SHO is forcing them out. What is to become of SHO?

Lacy criticized Sears' stock buybacks before and during the 2008 financial crisis, saying the money should have gone into the business. The odds are stacked against billionaire investor Eddie Lampert and his $5 billion-plus effort to resurrect Sears... — read more 

https://amp.usatoday.com/amp/2667949002 Longtime Sears boss and investor Eddie Lampert orchestrated a "multiyear and multifaceted scheme" to strip the company of assets and capitalize on its decline, a group of the retailer's major creditors alleged... — read more 

Does anyone know how many associates are still at Hoffman Estates , not counting the SHO associates. I was let go back in June from HE , am I,m sure many more have left since then.

Looks like Sears has consummated the sale of store # 1251 ( Lithonia GA) for $2.75 million. Given the massive fee's being charged by all of the lawyers representing Sears, I suspect Sears will probably lose money on this transaction

If you still have an assistant manager on the Kmart side, does anyone know if they are going to be eliminated with the cuts coming? We have supervisors on the floor, so not sure what the plans are. Anyone know?

I stay because the management has checked out and doesn't care anymore so I can surf the net on my phone, go into a back room and take a nap, stock a few shelves with the little merchandise we get in, and sit around and talk to my co-workers all day... — read more 

DM’s are being elimanated for both Sears and Kmart formats and a new Market Manager position is being created to run both formats in a Shared Services model of approximately 40 stores each.

Has anyone else been getting little to no hours recently? My store just got a huge post-holiday budget cut especially since the minimum wage went up and I haven’t had hours since after Christmas. Now normally I’d just quit immediately but in my case... — read more 

(Based on the five acts from the 570-page motion filed by Unsecured Creditors Committee of Sears, found here: https://example.com/r01au6AukU) Act 1: The Buyback Binge, 2006-2012 Rather than reinvest in the workforce or operations, Lampert used $6... — read more 

https://www.bloomberg.com/amp/news/articles/2019-01-24/lampert-killed-sears-in-shakespearean-tragedy-creditors-say Sears chairman Eddie Lampert and his hedge fund ESL caused the death of the once-mighty retailer that was “nothing short of tragic,” a... — read more 

Reality check here. Not that long ago, I also helped to clean every rug and the floors. I also helped throw away and send may things off to another store or send back to HQ The store never looked better. It was empty. Devoid of everything but the... — read more 

Just to clarify all of you who think a&e is in any kind of danger. When the chapter 11 was filed, the next day all techs received a message on the work cells from corporate/lampert passed down by management stating that service was not going to be... — read more 

Any news on if DMs got fired ? We have a visit this week that was confirmed today so they haven’t been fired as of 5 PM today..? What about Store level layoffs when and what is going to happen?

I just hope we continue to congregate here even after we depart from Sears. I will miss all of you, it was sad and it was fun on this forum (sometimes).

I as laid off in July 2018 when my store closed. I need to get my W2 and I haven't received it already. Is there somewhere a website where I can download my Sears W2 form for 2018? Or, should I reach out to HR (not sure who in HR would be responsible... — read more 

Upvote this post if you would leave Sears tomorrow (if you could, if you had options, etc.) Downvote this post if you feel that you should stick around and help Sears fight for it's survival Do noting if you feel like doing nothing, no arrow up, no... — read more