Or will it all be done in the following two weeks?
8 replies (most recent on top)
As an outsider and a retail expert, it's not looking real good. The creditors don't like Eddie's credit bid and his post bankruptcy plan. Yes, they have pretty sizable profitable store base, however their core issue still remains. Sears would need to reinvests at least a few hundred million into these stores in order to remain relevant to their shrinking customer base, especially millennials.
The creditors are currently seeing more worth to liquidate all assets so it's very possible that a liquidating firm wins the bid. This may be the best possible outcome for vendors to recoup some of their money.
There are supposedly other potential bids with non liquidating firms right now so there is a slim chance for Sears to survive but don't get your hopes up. Some of Sears entity like Innovel Logistics are profitable by itself. They delivery for Amazon, Costco and have some government contracts.
Who knows, the Sears name may only to exist under Sears Hometown and Outlet, which is a completely separately traded company, however, they now are experience challenges due to the SHC situation. That company may now be saddle in long term debt as they are working on the clock to completely cut ties with SHC. If the creditors and the bankruptcy judge decides for liquidations, this will create a huge disruption of jobs across the board, which is very unfortunate.
Just ask yourself: During the busiest time of the year for retailers, during the make or break time of year for retailers, during the one time someone would visit a Sears/Kmart, during the one time of the year when retailers pull out all the stops (massive advertising) to get people into the stores---- what do you see that Sears/Kmart is doing different this year or that would attract more customers? If the answer is nothing then you have your answer to if they will survive after January
Dec. 28th probably will be the date to watch
I think its done no damn way Sears can go another year from now. Its pretty much over at this point debt is to high suppliers are probably scared as hell I say they will file for chapter 7 beginning of 2019 no later than middle of 2019 no way they can go another round with 500 stores remaining.
Hanukkah Surcharge. Standard in the industry.
"Expensive lawyers won't give up their holidays"
Sure they will - their fees just get a boatload steeper -😕😕😕😕😕
hearings scheduled into February
Expensive lawyers won't give up their holidays