Looks like Eddie is going to be securing another large bailout loan. Why on Earth would people keep giving him money for Sears to stay just above water only to sink 3 weeks later and the loan is never repaid? Wow
11 replies (most recent on top)
The proceeds from the sale of Innovel did not last long?
The bailout is for TransformCo/ESL, not for Sears. Eddie owes a lot to a lot of parties and doesn't have much liquidity.
You will need to perform inventory of tools, or you will receive tool inventory for sale?
Rumor is we’re going to have tool inventory
It's bizarre.
The two Sears stores nearest to my house have less than 500 Craftsman tools left (each). And that number includes sockets and screwdrivers. No merchandise = no sales.
Even with a cut-rate long-term lease, these stores are hemorrhaging cash just to keep the lights on with minimal staffing.
As an ex-employee with all positive experiences, I hate to see these stores close. But, enough is enough.
@2rrg+173iS3q3 Its because they is almost NOTHING left to sell in these stores!!! He's only doing it to stroke his own ego he doesn't give a sh– about the workers. Its borderline embarrassing!!! I have people in my hometown clamoring for them to shut down the Kmart so that something BETTER can take its place and I don't blame them!
I love how people on this board openly cheer when stores close and people lose their jobs , yet they complain when Eddie keeps the stores open... Amazing
It is a write off for the person loaning the money to him.
Just be done already and put us out of our misery’s. Quit loaning him money!
Probably because he uses the money for other purposes than putting it into Sears or Kmart.
Write offs?
Have not seen anything.