Saw this on the news today. Ready the resumes.
https://www.cbs46.com/news/department-store-chain-belk-filing-for-chapter-11-bankruptcy/article_4226f4ba-4bd2-5d24-84f3-3f34822b0c60.html?utm_medium=social&utm_source=email&utm_campaign=user-share
2 replies (most recent on top)
Staples will take a little more time but it will end the same way. I can see 10 stores remaining and then BOOM. Its the way of private equity. Bring it to bare bones and claim bankruptcy. Investors get paid, everyone else gets SCRE_ED.
That's of course after the private equity firm has pulled the return on their investment. (which Sycamore has already done)
Staples is next! Jump ship before the company is unable to pay your severance.