Thread regarding Sears layoffs

Sears exploring sale of home improvement business, sources say

https://www.cnbc.com/2020/07/01/sears-exploring-sale-of-home-improvement-business-sources-say.html

Sears is exploring a sale of its home improvement business following interest from potential suitors such as private equity firms, people familiar with the matter said on Wednesday.

The struggling U.S. retailer’s Sears Home Services division has emerged as a coveted asset during the Covid-19 pandemic, as consumers embark on renovations while they stay home.

The division is one of the department store operator’s few crown jewels following its bankruptcy in 2018 and $5.2 billion sale to hedge fund manager Eddie Lampert, who was already its biggest shareholder and creditor.

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| 1611 views | | 10 replies (last July 6, 2020) | Reply
Post ID: @OP+15KyIJzF

10 replies (most recent on top)

In what fake reality is Guam part of the mainland?

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Post ID: @4plx+15KyIJzF

Guam? Mainland? Say what?

If you drop the three Florida Keys locations from "mainland", there are only 22 mainland Kmarts left.

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Post ID: @4qpl+15KyIJzF

There are 26 mainland kmarts if you include the guam store.

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Post ID: @4kbx+15KyIJzF

The patient is on life support as the last of the vital organs are being harvested. Once that’s done, the plug will be pulled....not much longer now.

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Post ID: @1efe+15KyIJzF

So once this is sold off all that remains is to close the remaining stores, sell the Hometown stores and then sell of the Kenmore, Kmart and Sears brands and websites. Should be all wrapped up this year. I

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Post ID: @lcu+15KyIJzF

This explains all the suddenly appearing out of nowhere fake job listings in Sears Home Improvement

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Post ID: @uhe+15KyIJzF

It’s about time they sell the service side!!! We make so much money for service and retail has put a bad taste in our customers mouth!!! We service all brands and all companies that sell appliances . It is so frustrating when your calling the customer and saying it’s sears service , no it’s A&E , wait transform hold co. Idk Who we Are as a service company!!! Stick to one name as a service company and will you just drop the sears home warranty and rename it.. You sell one of theses Ponzi plans and first thing that comes to mind to the customer is , I thought sears is going out of business. Of course like fools we protect it and say no where ok we’re service and we’re profitable!! blah blah blah!!

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Post ID: @dzg+15KyIJzF

I am assuming (maybe wrongly) that the "store count" includes -both- chains.

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Post ID: @xad+15KyIJzF

They started with 89 which is close to 90. We are down to 69 stores so there must be a few more coming to get down to 65 (might even go down to 63 or 64 and round to 65) including 1 final Seritage property (assuming it’s a Sears that will close and not a Kmart).

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Post ID: @ikk+15KyIJzF

Burying the lede:

"The company plans to permanently close some locations in the months ahead, bringing its total store count, now around 90, to about 65, according to a source familiar with the matter."

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Post ID: @yoh+15KyIJzF

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