Sears is failing, why is he trying so hard to buy it? I don't get it.
7 replies (most recent on top)
The satisfaction of saving two iconic American companies not once, but twice.
Money. Money. Money. He worships money and has sacrificed us all to attain money. He is a very poor excuse for a human being. Hopefully karma kicks in.
Maybe it sparks joy?
he is doing it just to pi$$ you off
Erase pension and old debt
I believed it is theatre so he minimizes lawsuits for himself. Claims he tried. LO<
Seritage owns a lot of the Sears real estate (which Sears sold to them at way below market prices, something that creditors are getting ready to sue them for, and who knows, maybe there could be jail for Eddie involved too when agency and fiduciary and self dealing conflicts come into play), and most of their income is from Sears. Just last year, Sears was still paying 80% of their rent. They can recover the space and lease it out. Unfortunately for him, the real estate market for Sears space is crashing hard, and Seritage could go bankrupt too. There's still the Kenmore, Craftsman, and Diehard IP which are pretty big deals, especially if Amazon, Home Depot, Lowes, or Costco want a share of it and the home services business. Honestly if Eddie had stepped out of the picture and let someone else handled it all of it could have been concluded pretty quickly, these are pretty valuable brands, but everyone hates Eddie.