https://www.reuters.com/legal/litigation/sears-creditors-seek-courts-ok-35-mln-litigation-funding-deal-2022-05-02/
12 replies (most recent on top)
This page is about Sears layoffs. Who is getting laid off as a result of this bankruptcy? Unless you have a human being layed off from Sears, it has no meaning in this forum. When Sears Holdings lays someone off then let us Know. Until then just shut up.
And Transformco has nothing to do with this sears-holdings page.
This is a layoff page. Sears holdings has no jobs with which to lay off. Any active jobs are with Transformco. And Transformco has nothing to do with this bankruptcy. This only affects a shell corporation with zero active jobs. Zero jobs can be laid off from an empty shell company.
Your point is off. Transformco does not have a page on TheLayoff. Sears Holdings does
https://www.thelayoff.com/sears-holdings
so we discuss it here, including the bankruptcy.
My point exactly. This goofy article is about Sears holdings which has NOTHING to do with current Sears operations or layoffs. Current Sears are instead run by Transformco so this article is irrelevant.
Which honeypot does Eddie have his hand in? All of them. Additionally, the URL to this page contains "sears-holdings", which is the entity still in bankruptcy that the article talks about.
Who cares? This has nothing to do with current stores.
Isn't Shop Your Way still operating?
SYW was truly awesome. (Not for Sears of course, but for me and anyone who knew how to use SYW to its maximum extent.)
I have no idea why anyone would let that program go on as long as it did. For several years Sears (and Kmart) were essentially giving away merchandise.
Y'all keep forgetting to mention in the clickbait posts that this bankruptcy has nothing to do with Transformco or current Sears Kmart operations. This only affects old Sears shell corporation. It has zippo to do with any Sears layoffs or closings. Nada.
The points earned from SYW seemed to expire quickly and it was always cumbersome to figure out how many points you had and when they expired. Checking out at the register was a time-consuming process.
Best paragraph in the unsecured creditors case. Remember Shop your way? They knew.
“ 85. Beginning as early as 2012, Sears Holdings’s directors began to request metrics from management that would indicate the transformation’s progress. However, Sears management did not track data that would support the notion that the transformation—which depended solely on the success of SYW—was working. Had they tracked such metrics, they would have learned that the transformation was not working. Indeed, based on actual and estimated data, from 2013 to 2017, there was a 33% decline both in active SYW memberships and in spending by SYW members. By 2014, it was impossible for Sears’s directors and officers to have believed that SYW was going to help return Sears to profitability.”