Thread regarding Sears layoffs

Think he keeps trying to the best of his ability.

@11Ann5u8-1mal Oh yes...he is so benevolent, isn't he? Saving all those jobs? Oh wait...he has cut those jobs in half...as well as the stores...

Alot of stores haven't even sold 5 million year to date so far

I hope Eddie has some of that money earmarked for Christmas trees...Where are the Christmas trees?

@mvu if he lends money as opposed to someone else he can take collateral. Why would he let Citi do it? Plus if he doesn't use their money they cant force him to liquidation.

@1sut mostly the same holiday as last year has come in

A massive amount of holiday coming in and tons of Softlines. It is a sure thing Eddie is trying to turn it around. Heard no more closures coming and focusing on bringing the ship above water.

If the stores were making money in the first place old Eddie would not have to borrow money in the first place. He's an incompetent businessman.

He’s spending his own money, he’s borrowing money, to stock the shelves so you can continue to receive a paycheck. That is crazy.....

Has any remaining stores received any holiday merchandise? Compared to last year's holiday merchandise is it more or less?

Planning to layoff more employees in Hoffman Estates office in a week or so. Cash flow is is tight.

Seems he is getting A LOT less than he use to but he's still getting it which is a big shock in itself...

Though honestly, this money is obviously isn't going into anything to help improving the story. Hell I don't even know if it will truly go into "restocking merch". And, as we have seen, all that money he's been giving the stores over the years have done nothing to help save the stores.

I wonder if Eddie ever shopped at Sears or Kmart.

What happened to that big line of credit he bragged about and got when he bought the company?

Omg. Every time I think Eddie couldn't do anything crazier....he does.
Good luck with that Eddie.

This is more likely for the spring orders. The holiday ones would have been done over the spring/summer.

Not tip of the iceberg.

See Docket 5400 and flip to the last two pages; Letter To Vendors from Robert Riecker re-assuring them: during bankruptcy they can be reassured of getting payments as normal.

While browsing some some deposition in the past I found detailed projections stating vendor payments would be purposely delayed... but the projections repeatedly showed in the future there WOULD be cash of Restructuring & Legal Professionals etc.; BUT $0.00 for vendors ... after the end of each projected period!

Can you picture Lampert / Riecker / Sears during liquidation sales loading up their shopping carts with millions of dollars in goods; and then scooting out the door without paying a dime; not even cost of goods while using the bankruptcy court as a shield to avoid paying for the GOODS RECEIVED POST bankruptcy!

If the above is not enough... Transform is appealing because they don't think they squeezed enough out of old Sears! (Docket 5399)
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• Unfortunately I think vendors will get NO RELIEF from courts despite this letter stating: We do not expect any impact to vendor payments.

We intend to pay vendors and partners in the ordinary course {of business} for all goods and services provided on or after the filing date.

Promises, promises...

If it's his money or if someone has so much money they can toss it down a rabbit hole just to see what happens....let him.

He's doing it so he can own more of the company after it goes belly up.