Everything you see at Belk right now is true. No matter what executive leaders and STM managers saying or lying, it is just a matter of time before Belk is going to liquidation soon. Remember the movie “The Out Law Jose Wales said: Don’t pi-s down my back and say it is raining”!
You said it perfectly, @ucs+1e2RU8GN.
Well said @2cwr.
Illiterate is not the one who can't not read and write. Illiterate is the one who has no "desire" to learn anything! This is a simple Belk discussion board for all of us who would like to learn more about rumors, personal experiences and any speculations about your company. It is not about you or "caring" this much about Belk company but only news and some speculations for people who want to know more on latest current rumors and news. If you don't really care then why are you wasting your "precious time" reading these Belk posts anyway @2dys+1e92UYTu?
I saw how long this was.. Who wants to read this $hit?
Who f-ing cares about Belk this much? Go out and find another gig.. damn
Once bitten, twice shy! We usually mean that a bad experience make us not want to become involved in a similar situation in the future. I have a bad feeling about this because history usually repeats itself again. Belk has too many redflags and trouble signs right now that pointing toward liquidation at sometime in the near future. Take a look at this observation I wrote before and draw your own conclusion.
Belk, Coldwater Creek, Staples, Hottopic, Talbots, Aeropostale, Torrid, Nine West, Jones Newyork are some of the many companies bought and sold by Sycamore Partners Hedge Fund Investment Company. What do all companies have one thing in common? All companies are now in financial trouble with Chapter 11 and bankcruptcy situations
and liquidations status sooner or later.
You have just answered your own question "Lots of other companies have done this Stein Mart, Neiman Marcus, JC Penney most of which were in financial trouble" All the companies bought and sold by Sycamore Partners tend to be in a financial trouble and heavy in debts sooner or later don't you think? Here is an example when Coldwater Creek was owned by Sycamore Partners Investment in the past business strategy
"On April 11, 2014, Coldwater Creek announced that it was filing for Chapter 11 bankruptcy, listing $278.5 million in assets and $361.3 million in debt. In a statement the company said that it had “engaged in a thorough analysis of all potential alternatives” but had failed to find a buyer or a source of funds to support continued operations. As of the bankruptcy announcement the company employed 339 employees at its corporate headquarters and 5,500 others elsewhere. Plans were made to start liquidating inventory and assets. Operations ceased as of early summer 2014."
I know many "One Belk" loyal associates keep saying we are doing great and everything will be fine for Belk company in the future. Remember those who live in the past with bad experiences from Sycamore Partners Investment and terrible business decisions will certainly miss the future! Let us hope for the best and prepare for the worst!