The sad thing is the longer this drags on, the more cash that is burned.
ESL given one last chance
according to the WSJ, judge gives Lambert until tomorrow to come up with 120mil to keep 425 stores alive.. https://www.wsj.com/articles/auction-for-sears-will-go-ahead-on-january-14-lawyer-11546971475
Court gives Sears new life, allows Chairman Eddie Lampert another chance to save retailer
https://www.cnbc.com/2019/01/08/chairman-eddie-lampert-to-get-another-chance-to-save-sears-sources-say.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message
I feel like I'm in a bad movie
You know the ones I'm talking about? Where the ending is so obvious but it keeps getting prolonged by repetitive suspenseful scenes, like that will up the ante somehow. Only after a while, those scenes become anything but suspenseful. So what are the... — read more
Sears Future Still in Limbo (CNN)
https://www.cnn.com/2019/01/08/business/sears-future-bankruptcy-delay/index.html
Whatever happens, Eddie will do just fine
In case somebody was worried. (Yes, that's sarcasm, in case somebody was wondering.) "Eddie Lampert’s ESL Partners is very quietly enjoying a blockbuster year. Institutional Investor estimates the fund is conservatively up more than 60 percent... — read more
ESL is contesting
Judge will take it under advisement. No liqudation yet, sorry haters.
Home Services may be "salvaged"?
Just read the CNBC article saying home services "may be salvaged". Anyone know what that might mean for techs if liquidation is decided today? Think we'll keep working as the stores are liquidated?
What does this mean for stores?
What happens in a liquidation? Do we close right away?
Is this just a show?
While we all know Eddie doesn't have much talent in running a business. He does excel at manipulation. I wonder if Eddie wanted his bid to keep the company intact to fail. Especially since he also had a second bid on just the parts he wanted. He can... — read more
Severance is not a requirement!
This needs to be on top so people can stop asking stupid questions. Posted by Post ID: @X1lSsZz-ciz in another thread. https://www.dol.gov/general/topic/wages/severancepay I love how people continue to beat a dead horse. Whether you feel you’re... — read more
Who or what will Eddie blame next?
We all know Eddie cannot take responsibility for his failings. It's always someone elses fault. I wonder where he will be pointing his blame finger at next? I don't think he can publicly blame the Judge until all this is over because he would be... — read more
Sears to ask bankruptcy judge to liquidate
Sears to ask bankruptcy judge to liquidate By Reuters January 8, 2019 | 8:27am Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert’s $4.4... — read more
Transformation Complete
The only one coming out unscathed is Eddie. Well played Satan... well played. https://www.cnbc.com/2019/01/06/sears-rejects-eddie-lamperts-bid-to-save-company-will-liquidate-.html
Does this mean no severance?
Does liquidation mean that those of us who stayed (and will stay) here to the bitter end will get no severance?
The End.
https://www.cnbc.com/2019/01/06/sears-rejects-eddie-lamperts-bid-to-save-company-will-liquidate-.html Anddddd that's the ballgame folks, thanks for playing
Reuters Exclusive: Sears to ask bankruptcy judge to liquidate
https://www.reuters.com/article/us-sears-bankruptcy-liquidation-exclusiv/exclusive-sears-to-ask-bankruptcy-judge-to-liquidate-sources-idUSKCN1P218J
Reuters is calling it.
https://www.reuters.com/article/us-sears-bankruptcy-liquidation-exclusiv/exclusive-sears-to-ask-bankruptcy-judge-to-liquidate-sources-idUSKCN1P218J
TOYS big mouth moved first floor floor
WHere they should have been in the first place for Christmas Doesn’t look like much of them sold hidden away on the second floor
We will find out soon.
Notice of Agenda for Hearing on January 8, 2019 at 10:00 a.m. filed by Sunny Singh on behalf of Sears Holdings Corporation. with hearing to be held on 1/8/2019 at 10:00 AM at Courtroom TBA, White Plains Courthouse (RDD)
Can we take a moment
And just note what a spectacularly bad job Eddie an team has done in managing the brand and image of Sears, its companies, and its brands since the start of Chapter 11? It's hard to imagine a team that could have done a worse job. Between the... — read more
Severance pharm
I believe with liquidation no severance I imagine some employees still own some shares no? Doesn't Kmart still on pharmacy licenses?
STAC
To my friends in STAC , it looks like along year . remember it can take up to two months to get a unemployment check . dont let Sears bite you again. some of you have stayed close , will help if needed .
Unemployment
I wonder if we'll even be able to get that.
Nothing to see here- move along
Tomorrow sears will announce that ESL’s go forward bid has been accepted and we will finally be able to complete the transformation. Those who have remained loyal are about to be handsomely rewarded. Those who have left well, good riddance. A new day... — read more
Still hiring!
Kmart that I'm at still has a "Still Hiring!" sign out there even though things are dead dead dead. A few days ago HR was trying to get the employees to sign up for Sears Credit Cards to boost numbers. I said, no thanks. HR started asking me if my... — read more
01/08/2018 THE END
We will know in the morning. Good luck to all the dedicated employees , those that made Sears Great .
See details here on how to complete your Sears transformation
https://jobs.lowes.com/ https://careers.homedepot.com/ https://jobs.target.com/ https://careers.walmart.com/
All the moves we're seeing is Abacus moving towards total liquidation
Abacus is NOT just liquidating inventory and fixtures. Abacus' plan is to liquidate the whole company, real estate, vans, equipment, and all if Eddie doesn't pull a billion dollar cash rabbit out of his a--.
We'll know tomorrow morning...
https://www.cnbc.com/2019/01/07/sears-in-stalemate-with-eddie-lampert-liquidates-without-tuesday-fix.html
It's all Done
Hearing from inside sources that it's all done tomorrow. While I'm upset that so many people will be losing their jobs. It's bitter sweet to see the arrogant upper management including district management loose their jobs
Liquidation has been inevitable for a while
I really a little surprised by the number of people that still think that there is some way out, and that are stressing out over weather Eddies bid is going to be accepted. For me. Liquidation has been, inescapable right when bankruptcy was filed. If... — read more
Why are we still receiving new product?
I can't understand why any of the suppliers would willingly still be sending us products. And they are! We have nearly the same number of delivery trucks as we did six months ago. How incompetent do you have to be to completely ignore what's been... — read more
When will we know?
I’ve heard from varying people that we’ll know tomorrow, others say the 14th.
Home service
Company fleet gas card not working as of today. Called they said to fill up on my own and I'd be reimbursed. The hell with that. I'll call the attorney general
Suing ESL ended up being a BIG sticking point for Eddie's bid falling apart
https://turnaround.org/jcr/2017/11/sears-srg-and-economics-fraudulent-conveyance The creditors are out for Eddie's hide, and good luck fixing that before Tuesday