Wow .. the end really seems here.
https://www.cnbc.com/amp/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html?__twitter_impression=true
5 replies (most recent on top)
PBGC is taking the pensions. The proceeds from the stores are going to fund what's underfunded.
Whoever rescues Sears also has to take on the Pension obligations... I can't see how anyone is going to do that. Part of me hates to see this happen, having worked there for 24 years ...but the other part will be glad if it's liquidated, all the HR people, Directors and VP's who issued the layoffs (while reading off an index card) will get what is long overdue coming to them. I hope the liquidators don't pay any retention bonuses, they don't deserve it. If Eddie rescues Sears, it would put the rest of his 'empire' in jeopardy, at this point he should walk away... it's like continuing to gamble at the c-sino after massive losses... it's hard to walk away... but sometimes that's the right move- cut your losses.
Eddie will let it go under as the continuing losses destroy the remaining value.
I'm highly skeptical that after 14 years Eddie is willing to let this ship sink without him.
Good to see the execs and key employees are earning their bonuses!