Yes, I know the closing stores are independently-owned and operated and not the actual Sears stores but as somebody who worked at an actual Sears in the 80s and 90s, I still relate to the name itself. I know a day is coming when there will be no Sears locations of any kind anymore and that saddens me.
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Did some vendors go unpaid? Why else down vote?
CompUSA was bankrupt. 48x closed CompUSA and as far as I know every vendor got paid.
48x bought and closed Comp USA. This is true and it was a rare misstep, kind of like a certain insurance subsidiary from Omaha that made the mistake of making a loan to the latest cash-burn experiment at Seritage (48x probably said no to a similar overture). Perhaps we can make a list of successful enterprises that 48x has compared to another. 48x has Comp USA as a singular setback; beyond that I know of no others; please list them if you have this information. Another is 0 for 3: SHC, Transformco, Seritage (on its way). And the 48x times multiplier still holds, unless we are to believe the snake oil for the other that innumerable and invisible minority stakes in vast and unknown hidden partnerships, plus undisclosed residences and yachts, leave 1/48th with more than Bezos and Musk.
@fwo+1h0O1cRW I said Eddie Lambert not Lampert. Also known as Eduardo Lambert. He's in charge of operations for sears mexico.
Sears mexico won't start closing until the US stores are done liquidating.
Actually it is to the poster below the poster below the poster below the poster below.
(I correct my poster below mistakes.)
To the poster below the poster below: 48x' experience with CompUSA. an object lesson on small fry and equity positions. Coincidentally, 48x bought CompUSA in 1999 and he pulled the plug in December 2007.
Is Sears Mexico closing too??
I think Eddie lambert will begin liquidating sears mexico in 2023.
ESL does not own Sears Mexico. It is also a safe bet that he has asked the owner of Sears Mexico (whose fortune is about 48x greater than his) for a loan on more than one occasion; this person makes loans, not equity stakes to small-fry of 1/48th his size. If the loans were requested, they have most likely been declined, or if not comprise the top-tier of what ESL must answer for.
@kku+1h0O1cRW Eddie Lampert nor Transformco has anything to do with Sears in Mexico...…..it's a totally different company just like Kmart in Australia has nothing to do with Kmart in the U.S.
Wow, if this is the saddest news of the day we're living in paradise.
I'm surprised Eddie Lambert hasn't begun liquidating Sears Mexico yet.