Since the 80 stores Sears recently announced as closing will stay open until March, that pretty much means that the rest of the stores are good until at least June?
If it takes three months to close stores and, as I'm assuming, no new announcements are made before March, this ship will be up and running for at least another six months.
Am I calculating this wrong?
Liquidators can simply buy the inventory, evict everyone, and hire minimum wage day laborers to bring it out on their own schedule. They don't need any Sears employees to do it.
There is no guarantee time period. Liquidations can be as quick as 60 days. Or, they don't even have to have public liquidations, they can file Chapter 7, and sell the inventory to competitors. That said, you better go to Kmart/Sears now while ANY store is open, once they file Chapter 7, it's gone gone!
Stores have been liquidating continuously for the last 15 years. That's all Eddie knows how to do.
Not sure how long any of you have been around retail but for those who recall Alexanders (once a major department store) when they went belly up employees showed up for work and doors were chained with armed guards to escort employees in to get their personal belongings.
Despite what some of you may think it can happen that fast.
Lol “liquidation could come at any moment”- what a ridiculous statement, of course it won’t. Sears is good now thru 2020 at the minimum.
Even without a Chapter 7, there is no reason to assume there won't be other liquidation announcements before the new round of liquidations finishes. They have had multiple overlapping rounds already.
If Eddie wins and continues his slow liquidation, yes. If instead the liquidators win and take it to chapter 7, 60-90 days tops, with half of HE gone within 10 days, 75% within 30-60 days, and only a skeleton crew to wind down operations beyond that.
I don't think the company will wait 6 months to announce next batch of store closures
Liquidation could come at any moment