Yes your manager will tell you otherwise. We're done, folks. Several people here at HE already know this for a fact. Get out now.
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Just use the guide from Sears Canada... filed bankruptcy in the summer of 2017 and then opted for liquidation in October of 2017. The Bankruptcy laws work different in Canada as opposed to the US. which will allow SHLD will enter Chapter 11 and then make a quick shift to Chapter 7. Christmas Closeout!
Too many leaks in the past. Now, no one will know of the cuts until around an hour before. There will be a conference call or a personal email sent to announce the cuts. SM, and DM's will not know until hours before.
So someone posted that on July 19 they would be letting go leads and making ASM's timecard.
No email's yet to SM's............what's going on?
Popcorn you out there
Very interesting never saw it that way makes much more sense now. I agree with you because this last xmas that passed our sales I believe were down 30 percent compared to last years holidays in the end. We did so bad in BF we would sell close to half a million and that year we sold I would say $150k less which was horrible. I am looking forward if we finally file for bankruptcy.
@2zkp-- that is exactly why you would declare BK before Christmas. Think about it. You declare in Sept. liquidation would start in late Sept. or October and take around two months. This puts you at Dec.
You have effectively had the best Christmas sales in years, due to people actually shopping Sears/Kmart for bargains. You pull many shoppers away from other retailers to buy the bargains at Sears for Christmas. Eddie gets a massive influx of cash to pay himself back for all his loans. And SHC rides off into the sunset.
If they wait until after Christmas then they will have another horrible Christmas season, losing even more money and people will be broke from Christmas and in no mood to shop at Sears/Kmart after the holidays.
Aug/ Sept. BK makes the most sense and money.
@2zkp I hope SHLD will not go BK since I own lots of its stocks. I'm down 50% but I have hope that it will recover once it sold its Kenmore and Diehard brands.
When you run out of money then you've run out of money. If you run out of money in August then that's the end of the line....If there's no money left to operate then there's there no money left to keep it going til the end of the year. Burning $3 million plus a day....money is nearly gone. What about that don't some of you get? There is not enough money to keep SHLD going til the end of the year.... SHLD is not the Little Engine that Could....SHLD is the broken down engine that has no wheels left and the track is missing so there is no where to go.
SHLD would never declare BK before Xmas, January or not at all. Only an idiot would post this drivel.
They are burning over 3 million dollars a day in cash. SHC is out of cash.
They just got a loan for 45 million, which should last around two weeks. This will take them until the end of the quarter.
They will announce another massive loss with SSS down againg by 10-15% and revenue dropping more This will be announced in August. Then they will annouce BK in late August or September.
Eddie is far from done. Not over yet.
Eddie has more rabbits in his hat yet to be pulled out!
Loan extensions do not generate operating cash, they only kick the debt can down the road. In the mean time, wages must be paid, suppliers and venders paid, real estate taxes and so on and so on....
Sears and Kmart. All stores. When there's no money left to operate then that's the end of the line. Losing millions of dollars a day and billions of dollars a year is not the way to run a business....the money is pretty much all gone. The end is close than you think.
What are you talking about ?
Sears or Kmart ?
How many stores are liquidating ?
Certainly not all stores , some just opened recently.
A couple weeks ago, Sears once again got their loans' due dates extended, by another 2 years (July 2020). Analysts still think the company will at least make it through the 2018 holiday season. http://www.nreionline.com/retail/debt-extension-isn-t-likely-save-sears-experts-say
Sears Holdings does follow a different calendar for their quarters than most companies and 1@pbf is correct. That's why the first quarter results were not announced until May 31st. 1@amg may very well be an idiot but you needn't call him out on it. He might simply have a very cursory understanding of how the company operates and reports it's financials. Idiot is too harsh. I am OK with you labeling him ignorant, for he is at least that. Misinformed, uninformed, and clueless would also be more appropriate descriptors. Let's have limits.
Wow. How do you not know that Shld starts it's fiscal year on February 1st and it ends on January 31st? The 1st quarter ended April 30th, 2nd quarter will end July 31st, 3rd quarter will end October 31st. They've been doing it that way for years. What an idiot.
I would love it to be in August but the quarter doesn’t end until September
Eddie wouldn’t announce anything until the financial quarter ends
Best case scenario is bankruptcy announcement at the end of third quarter in September
Just like the other liars out there calling "fake news"....those of us not brainwashed know it's true.
If this isn't from popcorn, it isn't true.
Don’t get out now. Hang on till the end and then followup in the footsteps of Toys R Us employees.
you can only say fake news so long before it becomes reality. good luck to those left when it finally does end
Gee, I hope you are not making this up. Out in August. 59 weeks of unemployment. Cobra insurance. A couple of months naked but then 65 retirement kicks in. Works for me!
Fake news