Thread regarding Sears layoffs

The Vendors should be able to take back what’s theirs

The law needs to be changed to where creditors are able to take back what's theirs, if they haven't been paid for it, bankruptcy or no bankruptcy. It is a form of theft to knowingly keep/profit off of somebody else's property that was not paid for. It should not be theft under the law to take back something that is rightfully yours, especially if you can establish that it was not paid for, even after they profited off of the sales of your product.

For a situation like this, it should only take getting a sherrif's deputy to verify that you are owed back your merchandise and to come along with you to help repossess what's rightfully yours. It's ridiculous how lenient our bankruptcy code is to debtors and how it punishes the creditors, who are lucky if they receive a fraction of what they are owed.

Maybe these statements are not in the favor of Sears right now, but think that @WvkxnFE-1atx ‘s point is valid.

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| 1246 views | | 9 replies (last December 9, 2018) | Reply
Post ID: @OP+WwfyDIf

9 replies (most recent on top)

Meanwhile Pepsi/Frito-Lay and Coca Cola saw the cost of insuring to Kmart and said f--k that noise.

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Post ID: @1jkn+WwfyDIf

"Those who chose to ship merch do so knowing the risks."

And many (the smarter/prepared ones) bought insurance on those shipments. Their losses are covered.

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Post ID: @1qdq+WwfyDIf

Vendors have the right to refuse any invoices coming from Sears they care to. Many, many vendors are already doing so. Those who chose to ship merch do so knowing the risks. IF they don't get paid, it becomes a tax write-off for them. Sears is breaking no laws by ordering merch, as that is the very thing that could keep them in business. It all works out in the end.

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Post ID: @1ybt+WwfyDIf

@WwfyDIf-npo Equifax is scum. Don't get me started. LOL

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Post ID: @ctk+WwfyDIf

@clz are you high? Or have you not walked into a Sears or Kmart in the last couple of months?

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Post ID: @fru+WwfyDIf

Amazing. How do loss prevention people feel about this? I mean did they scold busted shoplifters with moral speeches throughout the years, shaming them for doing wrong, etc?

I'm Not saying that shoplifters aren't low down, crummy people - because I think they are scum , but...

What I am saying is that it is ironic and comical that the company they work(ed) for has "itself" just pulled of a gigantic theft from its vendors. Turns out that Sears was the biggest thief of them all.

Reminds me of Equifax hypocrisy. Company would blame individuals if they were victims of credit card fraud or if their credit ratings were affected by too many businesses/lenders doing credit inquiries on them.

Equifax would give the ole "personal responsibility of keeping your information safe" speech.

Turns out Equifax was the biggest violator and most deserving of a "personal responsibility speech" of them all. Equifax got hacked and hackers got 100's of millions of peoples data because the company was too cheap to update their servers.

Equifax employees taking the moral high ground all these years explaining to customers that they should have safeguarded there personal info better, then the company they work for does something far, far worse - regarding the "safeguarding personal info thing.

What a sh*t show, LOL

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Post ID: @npo+WwfyDIf

the vendors are still shipping to the warehouses despite the bull that is written here. so i guess they are not that worried.

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Post ID: @clz+WwfyDIf

First collateralized person screwed recovers first is the general rule.

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Post ID: @cjd+WwfyDIf

The banks who lent the money so that the debtor could acquire that property in the first place have priority. Makes sense when you think about it.

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Post ID: @vsa+WwfyDIf

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