https://www.reuters.com/article/us-sears-financing-exclusive/exclusive-sears-says-it-has-secured-a-250-million-lifeline-will-close-96-stores-idUSKBN1XH2OL
"...Starting in December, Sears will close 96 stores, leaving the retailer with 182 locations"
4 replies (most recent on top)
Eddie's ego won't admit failure. Remember, he still operates other businesses and to admit failure would have a huge impact on his hedge fund. But the damage is already done. No one trust his judgement. No one.
Right after declaring bankruptcy, it was estimated that Sears was burning through $200M a month. This lifeline should be enough to get them through the end of the year. Once January rolls around, it’s time for Eddie to admit failure and shut it all down
Wow they found someone stupid enough to lend money to a company that declared bankruptcy in the last year AND has closed more than half the stores in that same time frame. W2G
So they got more money, yet are closing more stores...yeah that makes sense!