I mean I love my job but this is just inevitable. Seems like it would just be better to rip the bandaid off and put everyone out of their misery once and for all. I know some on here like to give false hope. This is the slowest, most painful death in retail history.
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you can see stories from september last year about how toys r us secured over 3 billion in financing. it means nothing if the judge decides to pull the plug, and he said yesterday that it's still on the table. eddie still has to prove that buying the stores is better for his creditors than selling everything, and by running to great american at payday loan rates, that kind of makes you believe that even he doesn't believe the bullc-ap he's selling.
From the documents, we know that it takes 125 million a month to run the company as it stands now. $350,000,000 - 125,000,000 December = 225,000,000-125,000,000 January =100,000,000 for some of February . The math is pretty simple on this one. It will all be gone before the end of February.
Liquidation will start after Christmas
The $350 million loan is from liquidator Great American, which will benefit from Sears inevitable demise while reducing the recovery by unsecured creditors as the cash burn from continuing operations continues.
That 350 million loan was the last rabbit Eddie has in his hat. This guy won't quit! It's a cash grab to get rid of what is left at the best time to sell it! Make no mistake.... lots of cash will flow these next 6 weeks and that is why this loan was made, it had nothing to do with maintaining the longterm viability of shc!
What are you waiting for? Go find a new job if it bothers you that much.