Thread regarding Sears layoffs

Seritage collected 65% of of its rent in April, well below other mall REITs and way below other REITs in general. While other REITs reported major recoveries in May rents, Seritage reported another 20% drop, and messaging from New York that "we will survive, we will get through this!" while suspending rent collection from Sears. While other mall REITs are either suing their tenants or working with their tenants to help them survive while reporting another major boost in June rent collection, the silence from Seritage is deafening as its few piddly sales can't make a dent in its enormous interest expense. Just like everything else in EddieWorld, only the most desperate, ready to run at first notice or gullible are ready to work with Eddie in any way shape or form. Look for Seritage to declare bankruptcy sooner rather than later in his own self interests, because why should Eddie be losing billions over his bad decisions when he can pass his bad decisions to Warren Buffet? Seritage has become toxic waste. It's a shame that everything else that Sears used to lead the industry in is making money hand over fist these days, because owning all that warehouse sized real estate and logistics spread nationally would have been a hell of a competitive advantage. Once Costco fixes Innovel's Eddie induced stupidity, it will probably make back every bit of money that Eddie lost.