Tell me that EL is not smiling from ear-to-ear thanks to Covid-19. It completely masks his real strategy to strip Transformco/ Sears of all its assets and prepare it for dissolution; leaving nothing for employees (most of which are furloughed) and vendors to go after. No witnesses. No one to alert or broadcast what is really going on; just a dark room to do whatever he wants with absolute distraction. I sure hope furloughed employees are spending all their time looking for new jobs. There will be nothing to come back to in September.
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What a stupid post. Do you not understand the commercial real estate market is going to plummet in the fall.
He doesn't need an excuse to get rid of his stores. That's what he should have done from the start anyway. These stores have no business being open at this point. Instead of pulling teeth to get some decent closings around here, he should just close them all at once. Not sure what's taking so long. End this already. Focus on online shopping. Brick and mortar shopping is done now.
There's no doubt about it, Eddie is a hedge fund genius.
COVID-19 is a disaster for Eddie. It's making all his properties worthless. Seritage, Land's End, Autonation, all his little pet As Seen on TV projects. All of it.
I know I am looking for something else. Trust me, this is a big blessing for Eddie. It is the excuse he was looking for to get rid of stores. Not that we fully buy it but hey, a smokescreen is a smokescreen.