https://finance.yahoo.com/news/sears-depletes-200-million-loan-221821707.html
Guess all that money fast Eddie is throwing at them isn't doing the company a lick of good, WHAT A SHOCKER!!!
6 replies (most recent on top)
Not sure where this last money went to but we were told the 400 million from before was to pre purchase the Christmas inventory , so with that in mind this is why we have the product on the floor now. The rest of this money from Eddie in my opinion is just a way to keep the bills paid until Eddies plan pans out, and all the property that these buildings sit on is so far in debt to Eddie and his hedge fund once the doors close his loans will be paid back with the high rate of interest and the property will all be his to do with as he likes and we get the shaft
@Q1xqswR-ixp They'll pay it off with more loans LOL.
On top of the over a billion dollars they owe this probably isn't a good sign. Plus we don't know truly where this money is going. It sure as hell not going into improving the stores or payroll for the employees.
Inventory might be good. That $200M + 11% interest is due in just a few months though.
@nud I like your response. Everybody is looking for something sensational which they think will act as an indicator to hasten the demise. Franky I don't know Eddy's game plan. But probably the vendors wanted cash upfront and Sears needs inventory
What were they supposed to do, sit on the money?
It was spent on inventory. We can’t sell any product if we don’t have it, this is a good thing.