With all the store closures announced none where the 140 ring fencers. Wondering what that means...
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He's gonna leave them for the bankruptcy court to figure out.
The ring fence stores are the core of the new sears. They will never be closed.
Read deeper.
Wonder what happens if there are no buyers for these properties as I can’t see too many wanting unkept stores.
also the size of some of these properties are just too big anymore and I’m sure some of the really old properties are full of asbestos!
Tax breaks are usually on profits or on companies that put money back into their business in buying new equipment, R&D etc. SHC does not have profits or invest in its stores Where would the tax break come into play?
You do realize with the big tax breaks trump just gave corporations he can use the money to pay the pension fund. Or decide to sell some properties and keep others.
If a store is not making profit and it’s owmed why would Sears (once the store is sold)want to pay rent for it to continue operation? That just seems like throwing money away.
Exactly! People do not get comfortable or hold on to false hope. They have to fund the pension as they are legally obligated. Eddie ain’t gonna pony up his own money. Best case scenario is that maybe all the stores do no have to be sold. Lots of stuff going on behind the scenes.
Selling a property does not automatically mean closure of the store that's in that property. The properties will mostly be sold to 'landlord' companies who want Sears to stay in there as long as possible paying rent, because they are not in highly desirable locations and will have a hard time finding a replacement tenant. Sears will eventually decide it can't afford to keep paying rent on all of them after they're sold, but I expect this will happen gradually over years to come, unless the whole company folds sooner than that.
@1dn the 140 properties have to be sold not just closed down I believe because that money is going to the pension fund
You can read original article by googling “ sears ring fencing deal”
It’s pretty interesting
@qxc So in other words, the deal isn't finalized yet and it probably will next month, meaning they are going to announce those 140 stores closing down as well? Holy Christ...
When these stores were “released” from ring fencing in November 2017 the article said it would take 90 days for the agreement to be completed. I’m under the impression that any proceeds from sale of these properties would go to the pension fund.
I wd think by February 2018 news of this deal would be announced and/or more information coming out from sears holdings or the PBGC
Either way 2018 is going to be a roller coaster ride!!
Guessing that also means that the pension is only being funded by all the loans Eddie keeps getting...yeah that will work out well.
it is harder to sell a store with no tenant, so they stay open until they are all sold or BK>