Not paying their leases (50%) by bullying and treating their laid off 6,000 employees like c-ap. Nordstrom family, you are OVER.
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Bleak is speaking the truth.
Nice hit piece. OP is not even an employee.
A Chapter 11 bankruptcy allows Nordstrom to ditch their leases and close most if not all of their physical locations. Then they get one last chance to live as a pure online retailer, with whatever remains of the store 808 style FCs and a bare bones crew — here in Seattle? Why not Cedar Rapids? Or just write an algo to do all the buying and sourcing. Can BevyUp or MessageYes genius platforms take the reins?
If that doesn’t work, it’s Chapter 7 and liquidation of everything left (ie nothing by then, not even rounders).
They very well cannot afford to be “nice” now. The Nordstroms have been aware of the possibility of the business spiraling down for at least five years, when they started consulting Kaas Tailored for fresh ideas on how to save the place. He is a smart guy, I wish I knew what impact he has had on company decisions and direction. Who knows.
The Chinese virus pandemic has accelerated the timeline insanely; what would take another five years to play out in normal conditions could be over within twelve months.
I’m sure it’s no fun to be on the receiving end of this, but they will be liquidated if they can’t fix retail.