You see it in the news. JCPenney on the verge of Ch 11. L Brands massively downsizing. The Gap closing down Banana Republic and Gap stores. Abercrombie's CEO stepping down. Express closing stores. Bebe BCBG and the rest going bankrupt. All those leases he thought that were going to have value are suddenly completely worthless in vacant abandoned malls. And they'll be even more worthless without Sears as an anchor. The longer he holds onto them the more worthless they'll be.
11 replies (most recent on top)
Exploring all possible options. Kind of standard. Lawyers and consultants need the hours. LOL
@Wo5J9ZA-sgr Lampert may not have a choice. The creditors are pushing for Chapter 7, and the court could make it happen.
haha. yeah, it's like when sears filed to have those exec bonuses and severances revoked in the docket filing. you thought you were getting a golden parachute? siiiiiike! those 322 exec bonuses are probably never going to materialize. eddie always thinks of #1. it didn't even take great american two weeks to get bent.
uh oh, all the execs supposedly getting their bonuses haven't been clued in on the fact that they might not be getting those bonuses after all. they have to find out from the wall street journal. muah.
You mean like the Swamp guy?someone at Hoffman offended his librardicles and he feels vindicated by spewage about swamps.
That is a valid reason IF he was thinking about it. His recent actions do not point that he is indeed thinking that way.
A lot of what is said in the media or on financial experts blogs or on this site are based on assumptions or what people more versed in financials or retail or hedge funds or reverse credit swaps etc. are thinking. Not everyone has achieved full knowledge absorption of everything. So post your thoughts. Post your replies. Post your rebuttals. But explain yourself. Accept other explanations as at least possible. And stop attacking. Unless you feel attacking others will finally make you feel good about yourself. But do state that is why you are attacking so the rest of us understand where you are actually coming from.
https://www.retaildive.com/news/wsj-sears-talks-with-liquidators-as-it-tries-to-sell-itself/543251/
WSJ: Sears talks with liquidators as it tries to sell itself
As Sears Holdings searches for a buyer to acquire its remaining stores in Chapter 11, the retailer is also considering liquidation offers, according to The Wall Street Journal, which cited unnamed sources.
The newspaper reported that Sears advisers "have contacted a number of liquidation firms seeking offers to shut down Sears's stores and sell off the company's merchandise in case the takeover offer falls apart." Sears' plans to sell itself include the possibility for liquidation as an alternative, according to court papers. A Sears spokesperson did not immediately reply to Retail Dive's request for comment.
He wants the land people
sgr: did you actually read the OP’s post? The “reason” is pretty well explained.
What makes you think Lampert is considering Chapter7? Recent news (11/28 3:41pm) states Cyrus and Lampert expected to make Sears bid. If you are going to post on this board please keep it to the facts or state that it is your opinion. Thanks.