Thread regarding Sears layoffs

there is cross litigation from Transformco and old Sears.

Eddie has his hand in the honey pot of both "old" and "new" Sears. If the bankruptcy outcome is not to his liking, he could very well say the-heck-with-it on TransformCo. He has already announced his retirement from Seritage.

@1eag+1g9HqEru It's extremely irrelevant. Ed Lampert has Creatively designed dozens of "entities" in such a way where one cannot be held responsible for another. Y'all have this fantasy of a magic cutoff, after when, Sears/Kmart magically just disappear from Earth. Sorry, to upset your fantasy, but this will NOT happen. Transformco (unlike old Sears) is a PRIVATE company owned solely by Lampert. Of course, he will continue to close locations, at his slow, leisurely pace, but it will have NOTHING to do with any bankruptcy or government run bankruptcy court. Old Sears was (is) a publicly traded corporation. Transformco is a PRIVATE entity. Why don't y'all understand the difference? There are no shareholders to answer to. He can keep the stores open, give them to his girlfriend, or give them to the homeless guy down the street. His private business, his private decision. NONE of these bankruptcy proceedings will have an iota of an affect on current Sears store operations.

*Moreover, I hate to break this to you, but some form of Sears will probably be around another 400 Years. Guam Kmart ain't closing, and probably at least some of the USVI stores will stay open indefinitely. Sears Hometowns, at least a few, will remain, if for not other reason, that their owners refuse to close them. And Sears.com will always be around. Even if 99% of what they sell is third party stuff, remember that Ed makes PROFIT on those third party sales, basically for doing nothing. He runs a web hosting platform and takes a Cut of every transaction that occurs on there.

** I Know people like headlines & Deadlines, but nothing shocking or newsworthy is coming from Transformco. Transformco (AKA new Sears) will continue to slowly close down stores, at whatever pace he chooses, without any involvement from the bankruptcy courts, and possibly without any announcements either.

*** Long story short......yawn, nothing to see here. If y'all are so interested in the bankruptcy proceeding of a shell corporation that has no active operations, might I suggest Watching paint dry.......it might be more fun.

Eddie is liquidating ESL (owner of Transformco )

Judge Drain wants to settle the dozens of lawsuits against ESL before the end of June

…and some see that as irrelevant ?

@hkj+1g9HqEru Guam is the most profitable store on EARTH????? I'd ask for proof, but not sure what you would pull that claim out of. I'm sure a big part of its profitability has to do with practically being a monopoly on the island rather that any shrewd business savvy.

Creditors need to watch out or could get the shaft again now from what is called Transformco.

TransformCo may not be directly impacted but Eddie and ELS definitely are Below is an except from SA article: https://seekingalpha.com/article/4500405-sears-holdings-may-finally-exit-bankruptcy-after-judge-appoints-mediators

“It, therefore, seems all the needed money must come from the litigation against Lambert/ESL et al. (Note: Based on various filings, it looks like ESL Partners is liquidating.) They need at least $62.6 million from Lampert et al. The $62.6 million may also be low because there are significant legal fees associated with this mediation process.”

For those of us who don't want to pay money or make a account.

Wsj article: https://archive.ph/Quagw

Seeking alpha article: https://archive.ph/pzwqV

I hope the original vendors get every penny they are owed and then some.

I think that post was from Mr. L. himself

Try this link from seeking alpha

https://seekingalpha.com/article/4500405-sears-holdings-may-finally-exit-bankruptcy-after-judge-appoints-mediators

@hkj+1g9HqEru Your point is????

Also, OP, you forgot to mention 1 little tiny detail. That your link is to an article that's Paywalled? Unless our readers all have WSJ subscriptions, they won't be able to read it. Forgot that part, eh?

OK, but you're not a vendor for Sears, right? Apparently there ARE several vendors, who DO, for whatever reason, want to keep doing business with Sears. And the Guam Kmart that Ed owns, remains one of the most Profitable stores of any brand, on EARTH. So there are a few remnants of this company, that are apparently worth SOMETHING to at least SOME folks.

But it is interesting as it sheds further light on the character of Mr. L who ran "old" Sears into the ground, and has control of what's left of "new" Sears. If I were a vendor, I'd think twice before extending a dime in credit to an outfit run by the same person.

To be clear, this NOTHING to do with Transformco, or current Sears/Kmart operations. This only has to do with OLD SEARS, the now shell corporation which has nothing whatsoever to do with any currently operating stores.

In other words, it's like discussing whether the Bar recycles the used, empty Bottles, after they close for the Night. Interesting topic, sure, but not the first thing on my mind. I'm more interested, in what's happening with full Bottles that I can Drink, rather than what they do with the empty Bottles, after I go home.

Old Sears is whatever is left of the old company, which has zero operating stores, so it's like the old Bottles after I go home from the Bar.