Hi .Everyone. I have been reading a lot here. I have a question that I would like to ask the better minds here. Where does the owner of the company get the money to keep stores that are losing money open? Any other retailer would have been closed down long time ago.
15 replies (most recent on top)
Where does the merchandise pickup lane go in Scahumbarug Illinoise Sears
It won’t get its inventory from Sears or Eddie. He hasn’t been supplying Hometwown stores with inventory for months. He has nothing to supply and vendors won’t sell to him on faith, because they don’t want to get burned.................again.
Franchise or not, Eddie's company is involved. Where do you think that franchise gets its inventory from? Hmm??
https://easttexasradio.com/sears-coming-to-paris/
@2tua+1aqniS4t page not found and that's not a Sears and Eddie has nothing to do with it opening. Hometown is a franchise like McDonalds, except McDonalds makes money
He is far from closing them all. He is opening some new! Here is a URL (not a link)
https://eparisextra.com/all-business/just-in-sears-hometown-store-coming-to-paris-in-may-content-sponsored-by-quality-roofing/
Slightly facetiously, I will answer your question simply and then with a little more meat on the bones.
The internet answer is Debt, Doge and DMT (to insulate from the reality of the situation) The reality probably looks a whole lot more like wh––––y, debt, bitcoin, 5 pounds of flour, real estate agents that drive Cadillacs, lawyers, and a boat for sale.
To the MoOoOoOoOoN...............
He should close them all because the future of shopping is online, not in stores. "Stores" are so 20th Century.
How does Eddie Lampert make a small fortune? By starting out with a big one!
- L. has invested billions of his own personal wealth into ‘the company’ ,not paid creditors, filed BK, creative accounting, no investment in stores or maintenance, enticed W. B. To invest, and not paid creditors again.
Generally agreed to be the longest liquidation sale in history.
He should have kept them all open! Invest into the stores! No one really likes Wal-Mart we just go there because there is no strong alternative!
His ego will not allow him to close the remaining stores. He will keep at least 1 Sears & 1 Kmart open so he can say, “see everyone said they would not survive, but I proved them wrong!” 🙄
Spending fifty bucks to save a nickel
Sunk cost fallacy- throwing good money after bad
He has to preserve continuity of business to get the net operating loss tax benefits form Sears Holdings from the IRS. From the latest filings, he's doing that extraordinarily incompetently while racking up the largest lawyer fees in the history of lawyers. It'll be hilarious if he ends up losing the billion dollar future value of the NOLs because of his buffoonery. He can't "transform" anything except wealth into ash.
Selling off properties and playing the shell game between multiple companies he owns.