Now that the company is working with Arkhouse on the potential buyout and taking Macy's private, what do you think the chances are that the Bold New Strategy to close 150 stores changes if they are successful?
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In the news: t.spring said the stores closing are related to real estate, they are looking to utilize their real estate $ to "try" to get 1 leg out of hole.
Alot of the stores that are closing are in dying malls. Some of them are in bad neighborhoods and since this company does nothing to stop the rampant shoplifting,its a moot point. Arkhouse in my opinion isn't interested in running these stores they want the land under them!!
They have no track record of running a company. They're a real estate liquidation investor. In spite of what they say, they'll close it all eventually, IMO. And if and when they take it private, they may have the option of firing everyone and then offering them the same job with less benefits, pay, etc. Not sure what happens with the union stores in that scenario. There is nothing good about a hostile takeover company with no track record of running a company long term. These guys are in over their heads, Listen to the interview on CNBC's Power Lunch interview, the managing CEO sounded like a nitwit. JMO.
You mean when?
If buyout is successful Arkhouse would ONLY sell off the owned stores by Macy's that are on the 150 non-go forward stores list. Macy's and Arkhouse included that in there potential buyout agreement along with the non-disclosure. Nothing really would change.
None.,..,they will probably close more.